Summary:
- Zenzic Capital and Torsion Group have secured a £63 million refinancing facility from Cerberus Capital Management for three stabilised UK PBSA assets in Warwick, Nottingham, and Leeds, collectively providing 476 beds with 99% occupancy.
- The five-year facility replaces previous development loans from Zorin Finance, Ingenious Group, and Atelier Finance, marking a key milestone in stabilising the assets and enabling further portfolio growth through acquisitions or development.
- The refinancing underscores confidence in the quality and operational strength of the JV’s assets, supported by Torsion’s LUNA platform, and aligns with Cerberus’s strategy to invest in high-quality UK student accommodation opportunities.
Original article:
https://benews.co.uk/zenzic-and-torsion-complete-63m-pbsa-refinancing-deal/
