Market Leads & Opportunities
Funding to bring forward 250-bed Sheffield scheme
A funding deal has been agreed to bring forward a 250-bed student accommodation development in Sheffield.Investec Structured Property Finance has agreed to provide CA Ventures, a North American investor, developer and operator of student housing assets, with a £64m senior loan to fund the development of 888 purpose-built student accommodation units in Sheffield, of Glasgow and Edinburgh.The 250-bed development in Sheffield is located less than 400 metres from Sheffield University Campus and a short walk from the city centre and Sheffield Hallam University. The Glasgow and Edinburgh schemes comprise 422 and 216 beds, respectively.The transaction represents Investec’s largest loan in the purpose-built student accommodation sector. To date, it has provided more than £650m of finance, across about 16,000 beds in 41 schemes.Robertsons will be responsible for the development phase of the Sheffield scheme and Watkin Jones for the Glasgow scheme.
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