Investec Providing Financing for CA Ventures Student Portfolio

Posted by Richard Ward in

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Investec Structured Property Finance is to provide a loan worth £64m to CA Ventures as it looks to build a portfolio of student accommodation assets.

The deal represents Investec's largest purpose-built student accommodation (PBSA) loan to date and will enable the North American fund to develop 888 PBSA beds in Glasgow, Edinburgh and Sheffield.

All the schemes are due to be ready in time for the 2020-21 academic year.

Shivani Goolab, at Investec Structured Property Finance, said: "We are very excited to be working alongside a leading student living provider with an enviable track record in the US, as it looks to break into the UK market."

"We believe that our experience funding a range of market-leading developers across 41 schemes positions us to play a valuable role in supporting CA Ventures' overseas expansion strategy."

Carlo Matta at CA Ventures, added: "It has been a pleasure working with the team at Investec, a lender that has demonstrated an intimate knowledge of the UK's PBSA landscape."

"This is the start of what we hope will be a long and fruitful relationship, as we look to leverage our near 15 year track record of developing and operating high-quality student accommodation portfolios in the USA in establishing our footprint in the UK; a market which is home to a high number of world-leading universities."