Investec Bank has agreed a £23.2m debt facility to finance McLaren and PMG’s 355-bed student housing scheme in Cardiff.
It will provide a 2.5-year senior finance facility for the 70,000 sq ft scheme, which is due for completion by autumn 2017.
The project, on Newport Road in the city centre, will include 271 studios and 84 two-bed flats plus communal facilities. The scheme has an end value of £37m.
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