Cain International has agreed a £40.3m loan to Vita Group to finance the development of a 401-bed student scheme in Cardiff.
The facility is Cain’s second for Vita Group, after an £80m deal for a 780-bed scheme in Coventry late last year.
Vita Group acquired the Cardiff site in 2017 and has since secured planning for 401 student studios, alongside a gym, games and common rooms and retail space.
Graham Keable, principal at Cain International, said: “The PBSA sector has been increasingly attracting attention from institutional investors and we are confident that it will continue to demonstrate resilience in the months and years ahead.”
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