GSA secures £110m+ loan from NatWest for three premium UK assets

09 October 2024

The Curve.psd

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Global Student Accommodation, (“GSA” or the “Company”), the global leader in student housing, has refinanced three of its stabilised Purpose-Built Student Accommodation (PBSA) assets with NatWest. The £110m+ investment facility is for three properties across the cities of London and Bristol.

Unity Street and Print Hall are neighbouring buildings on the outskirts of Bristol city centre, comprising 226 and 267-beds respectively. Both are under nominations agreement with the University of Bristol, part of the Russell Group.

The Curve is a 350-bed property that in Aldgate East, London. The recently refurbished residence is under nominations agreement with Northeastern University.

NatWest secured the deal due to its competitive debt structure offerings and consistency of execution excellence.

Heather McKenzie, Associate Director of Debt Capital at GSA, said:

"The PBSA sector continues to demonstrate its resilience, underpinned by strong demand and opportunities to supply high standard accommodation. These fundamentals are recognised by NatWest, who we have an existing relationship with, and we look forward to deepening this partnership."

Eirini Kalamara, Relationship Director of Residential Development at NatWest said:

“We are delighted to continue supporting GSA with its investments into best-in-class PBSA assets across core markets in the UK. The PBSA sector remains a key growth market of our core real estate strategy which continues to see high volumes of investment. As a bank we remain committed to supporting the student residential market and we are proud to be supporting corporates such as GSA who are providing high quality housing in cities where supply remains challenged.”

Pinsent Mason and Cushman & Wakefield provided advice for the lender, and Eversheds for GSA.