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Specialisms

Student Accommodation

The demand for purpose-built student accommodation (PBSA) continues to grow and offer developers strong returns. It is a challenging market however and the journey from conception and funding through to completion can be complex.

We have a successful track record in supporting developers with both senior and stretch senior facilities to deliver their projects.

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Parameters
Loan size From €10m up to €300m
Maximum gearing Up to 90% of cost & 70% of GDV
Margins from 3.8%

We consider each potential development project on its own merits but below gives an indication of some key considerations when appraising a new student scheme.

  • Borrower experience in the purpose-built student accommodation sector
  • Location of asset e.g. proximity to university / amenities
  • Demand for purpose-built student accommodation in the locality
  • Potential for supply and demand rebalancing in the near term
  • Operator experience
  • Viability of exit plan e.g. refinance or sale
"We have a well-established reputation for supporting some of Europe's premier student accommodation projects. We view student accommodation as a defensive asset class, with consistent year-on-year rental growth, well-defined operating costs, and strong demand from institutionally backed platforms looking to acquire completed projects."
Sky Mapson Deal origination

Our Deals

Student Accommodation deals we have funded: