The Collective has secured a four-year loan from £140m from Deutsche Bank and Gravis Capital to fuel its global expansion.
The co-living operator has agreed a new £120m loan and a £20m revolving tranche, with a commitment of £87m, from Deutsche Bank and £53m from GCP Asset Backed Income Fund.
It will use the funds to acquire new sites in the UK, Germany, Ireland and the US.
The Collective has 9,000 co-living bedrooms in development, with a pipeline of a further 20,000 units against a target of 100,000 to be delivered over the next five to 10 years.
See also: The Collective’s Reza Merchant wants to change the world
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