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Union Property Secures £114m PBSA Loan

Posted by Calum Martin in

Image courtesy of Flickr, (View licence)

A £114m loan has been secured by Union Property to assist in the delivery of a new purpose-built student accommodation (PBSA) project in Paddington.

Maslow Capital are behind the funding, which will support the delivery of 356 student beds in Central London.

Head of deal origination at Maslow Capital, Emma Burke, commented: "We are delighted to support this exciting new PBSA project. Our team's commitment and efforts enabled us to complete this transaction in just 8 weeks from credit approval, which is a testament to our dedication to providing swift and efficient financing solutions."

According to Burke, Maslow Capital has financed more than 4,800 PBSA beds to date.

Recently, Maslow has been particularly active in providing financing packages, with a total of £372m being provided within the past month alone. One such example is the loan of £258m that was granted to UK property developer SevenCapital and real estate investment firm MARK, to support the development of a West London-based residential project.