Summary:
- Atelier has provided a £4.7 million loan at 70% LTV for a 19-month term to fund the conversion of a Category-A listed former hotel into a 48-room PBSA scheme in Aberdeen, North East Scotland.
- The project aims to enhance Aberdeen’s student accommodation supply by delivering high-quality rooms, addressing local demand in the PBSA market.
- This marks Atelier’s first deal with the borrower, whose proven track record in Aberdeen’s student housing sector and a clear conversion plan secured lender confidence.
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