Puma Property Finance is providing a £24 mln (€27 mln) loan to Vita Group for a 269-room PBSA in Belfast City Centre.
The scheme was developed and will be operated by Vita Student with effect from the September 2023 academic year.
It is situated between Queen’s University and the city centre, servicing the needs of the city’s full-time student population of around 45,000.
The new site offers a quality student living experience thanks to services including private dining and study rooms, state-of-the-art gyms and a daily events roster promoting physical and mental wellbeing.
With the latest funding, Puma’s total commitment reaches over 2,000 student bedrooms across 10 different student accommodation developments.
Kevin Davidson of Puma Property Finance said: ‘We’re delighted to support this development in what we hope will offer best-in-class service to Belfast’s bustling student population. This development will represent Vita’s debut and expansion into Northern Ireland. Vita is already well-known for providing significant amounts of amenity space in comparison to other developers and this will carry across to its latest Belfast development. Moreover, with reports of widespread student accommodation shortages creating challenges across the UK, we are proud to continue our ongoing efforts to support developments of this nature.’
Max Bielby, COO for Vita Group added: ‘Puma’s track record in PBSA makes them the perfect finance partner for Belfast, providing the business with relevant funding to deliver this exceptional building, creating a stand-out product in this new territory.’
