Blacksand has bought a 300-bed student block in Kingston-upon-Thames with the help of Abu Dhabi Islamic Bank.
ADIB provided £24m of financing to the Bahrain-based, UK-focused Blacksand to buy Vibe Student Living, which includes 111 studios and 189 en-suite cluster bed spaces. Other facilities include gym, indoor cinema and study pods, as well as a shop let to Europcar on the ground floor.
ADIB offers Sharia-compliant property financing to clients in the UK, and has closed over £150m in senior financing transactions so far this year.
