Engie Awarded Kingston University Contract
19th Oct 2018
Maslow Capital has completed deals for three purpose-built student accommodation schemes valued at around £65m.
The Durham accommodation will see the delivery of 227 beds located a mile from the main university campus. More than 100 units will be constructed in Nottingham and a further 211 beds delivered in Coventry.
Maslow has also announced the launch of a specialist PBSA division which will focus on providing bespoke lending and funding facilities for developers in the student accommodation sector.
To date, the lender has supported the development of 10 PBSA assets, which will deliver more than 1,600 new beds, with a combined GDV of more than £160m.
Commenting on the latest deals, CEO and co-founder of Maslow Capital, Ellis Sher said: "These three deals add significant scale to our PBSA portfolio and underline the compelling opportunities we continue to see in this exciting and growing market segment".
"PBSA has delivered attractive returns for investors and developers over the past decade, helped by growing demand from large pension funds and other institutional investors".
"The fundamentals of PBSA, sustainable income streams together with stable yields should sustain the growth of the sector going forward, and our ability to provide both senior and stretch senior funding packages positions us well to grow our exposure to this niche in the future".
"Our new dedicated PBSA division will be resourced by a team with considerable experience in this asset class, which will provide developers with a specialist service from a lender that understands the intricacies of their sector."
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