Loan Secured for Lincoln Student Accommodation

A student accommodation development in Lincoln has now secured funding from OakNorth Bank.

The development, dubbed Pine Mill, is a joint venture between Harrison Street and Torsion Developments.

Situated near the University of Lincoln, the Pine Mill scheme aims to deliver 361 student beds.

Investment management firm Harrison Street specialises in alternative real assets. The company has over $55bn in assets under management and has currently invested in excess of 105K student beds throughout Europe and North America.

Torsion Developments have a focus on student accommodation, care, residential, and housing.

Torsion's founder, Dan Spencer, commented: "With student numbers at both the University of Lincoln and Bishop Grosseteste University continuing to rise, we're delighted to be playing our part in bringing highly sought-after PBSAs to the city.

"The experience with OakNorth was delightful, and we look forward to continuing to build the relationship with them."

Senior Director of property finance at OakNorth Bank, Damien Hughes, added: "We're delighted to be working with two such strong businesses in Harrison Street and Torsion Developments.

"They both have incredibly strong track records in this space and have clearly already demonstrated a strong product market fit with this new site. We look forward to continuing to support them with future projects."