Maslow Capital was delighted to support a joint venture between H.I.G. Realty Partners and Primus Property Group with a £32 million loan that will see the development of a state-of-the-art student accommodation scheme in Lancaster.
This project’s desirable riverside setting will introduce 388 state-of-the-art studios in addition to a range of industry leading amenities, including games rooms, common living areas, private dining rooms, group study spaces, cinema rooms, gyms, yoga studios, and vibrant outdoor social areas.
Responding to a 19% surge in international student numbers in Lancaster since 2015, H.I.G. Realty Partners and Primus Property Group have set their sights on transforming student living experiences in the city. This development aims to meet the growing demand for high quality student accommodation, ensuring students have access to not only comfortable living but also a community that fosters learning and personal growth.
This £32 million loan forms part of a wider £68 million financing package that will also see the development of 402 student beds in Leeds.
Sky Mapson, Director, Deal Origination at Maslow Capital said: “We are delighted to deepen our relationship with two top-tier clients, through the funding of these transformative projects. Our extensive experience in the sector, having funded a significant number of student accommodation schemes resulting in the creation of 3,916 student units since our inception, underscores Maslow’s steadfast commitment to supporting the development of high-quality living sector assets in locations where demand exceeds supply.”
Rachael Gordon, Head of Deal Execution at Maslow Capital said: “The notable increase in the international student population in both Leeds and Lancaster has intensified the demand for high-quality student accommodation in these cities. The early reservation of properties and the heightened demand for homes within walking distance of universities are trends apparent in both cities. With esteemed universities experiencing a surge in enrollments, the supply of purpose-built student accommodations is pivotal.”