Investec Structured Property Finance has agreed a 24-month, £47.6m financing facility to Curlew Student Trust for development of a 527-bed scheme in Walthamstow, E17.
Investec will provide senior debt to fund the scheme through to practical completion in July this year, and for a further 18 month investment period.
Mannequin House on Blackhorse Road will open for the 2017/18 academic year, with Curlew forward funding the scheme and contractor Watkin Jones responsible for the development phase.
Mark Bladon at Investec Structured Property Finance said: “This facility, which straddles both the development phase and an investment period, allows us to commit to the scheme as it becomes income generating and we look forward to working alongside one of the sector’s most successful and respected investors.”
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