Investec Real Estate has provided a 拢21.3m (鈧�25.2m) senior secured loan to a joint venture between Bridges Fund Management and ROK Property to refinance a 307-bed purpose-built student accommodation (PBSA) scheme in Belfast.
The investment facility refinances The Edge, a newly completed development comprising 307 studio apartments in Belfast鈥檚 Cathedral Quarter.
The property reached practical completion in September 2024 and is managed by Homes for Students.
Larrissa Field, Investec Real Estate, said: 鈥淭he investment case for UK PBSA remains compelling, underpinned by strong student demand, supportive demographic trends and structural undersupply.
鈥淭his transaction represents an excellent opportunity to support a high-quality asset in a strong Belfast location, while building on our existing relationship with Bridges. We look forward to supporting the sponsors on future opportunities.鈥�
Celia Harrison, director, Bridges Fund Management, said: 鈥淲e鈥檙e proud to have created a development that we believe is a real asset to the local community and the city of Belfast more broadly 鈥� drawing on Bridges鈥� extensive experience of delivering highly sustainable residential accommodation in UK cities 鈥� and we鈥檙e delighted to be working with Investec as we welcome students for the 26/27 academic year.鈥�
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