Arthur takes a look at Maslow Capital, a leading provider of development finance for the construction of purpose-built student accommodation (PBSA) and their new deals.
The group has supported a number of PBSA developers with both senior and stretch senior finance facilities and have a huge appetite to grow their portfolio.
Three purpose -built student accommodation schemes valued at around £65m have been financed by Maslow Capital. These new developments are located in Durham, Coventry and Nottingham, with a combined total of 541 units.
Maslow Capital has recently announced the launch of a PSBA division which will provide a lending and funding facility for developers in the student housing market. So far, the lender has supported the development of 10 PSBA assets, which will deliver more than 1,600 beds and have a combined GDV of more than £160m.
Ellis Sher, CEO and co-founder of Maslow Capital 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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