Cain International has agreed a £53m facility with Vita Group to finance the development of a 496-bed student scheme in Coventry.
The loan is Cain’s third to Vita Group, bringing the total provided to more than £170m.
The Coventry scheme has full planning consent and will include a gym, cinema, study rooms, gaming stations and a large social hub for holding events. Construction is being delivered by Bowmer & Kirkland and it is expected to complete in 2023.
It is a 10-minute walk from Coventry University and a 20-minute bus journey from the University of Warwick.
Graham Keable, principal at Cain International, said: “While demand from international students for UK universities has witnessed some temporary disruption due to the coronavirus pandemic, this is set to rebound as this development reaches completion and will remain strong as both parents and students prioritise safe, supportive and well-managed accommodation in the years ahead.”
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