Macquarie Lending has agreed a £35m loan to fund three student accommodation projects.
It has arranged the £35m stretch senior financing facility for Victus European Student Accommodation Fund.
The loan is secured against assets in Bristol and Newcastle (pictured). Two buildings have been completed and are fully rented, with a third due for completion in late 2015.
Victus board chairman Andrew Henton said: “The strong return on these types of properties has been well-reported, but there is still significant undersupply of quality stock in prime locations. We are ideally placed to take advantage of and maximise the opportunities in the market.”
Cordet partnered with Macquarie Lending to fund a minority part of the refinancing facility.
