Pricoa Mortgage Capital has provided a £130m loan against five of GCP Student Living’s assets.
The US lender has provided the finance on a nine-year term secured against 1,700 rooms across central and greater London.
The loan will be at a fixed rate.
Tom Ward, partner at Gravis Capital Partners – the parent of GCP Student Living – said: “The new facility provides the company with long-term, fixed rate debt financing at a strong point in the cycle and thereby secures the continued financial stability of the company for the forthcoming years.”
mike.cobb@estatesgazette.com
