Summary:
- Investec Bank has provided a £46.95 million senior loan to YourTRIBE for its 226-bed student accommodation scheme in Elephant & Castle, south London, refinancing the existing lender and supporting the operator’s ongoing expansion in the London PBSA market.
- This deal marks Investec’s second transaction with YourTRIBE, following a £37 million facility for a South Bermondsey scheme, reflecting a relationship that spans over 20 years and underscores Investec’s commitment to the UK student accommodation sector.
- The Elephant & Castle development is operational in a market with structural undersupply of student beds, reinforcing the strategic importance of well-located, professionally managed PBSA assets amid sustained demand near major transport hubs and universities.
Original article:
https://www.propertywire.com/news/uk/yourtribe-secures-47m-refinance-for-elephant-castle-pbsa/
