Citi has syndicated half of its £390m loan issued to Greystar and PSP for their purchase of the Nido student accommodation business to Lloyds.
The loan is secured against three assets in Spitalfields, King’s Cross and Notting Hill, which have 2,375 beds.
They have been bought from Roundhill Capital and the finance reflects a loan-to-value ratio of 65%.
Separately, Citi has funded Greystar’s and PSP’s £109m purchase of the Hult Tower on Commercial Road, E1. The £71m loan reflects an LTV of 65%.
Greystar and PSP awarded the deal to Citi as one package, despite the need for two separate finance facilities.
