Maslow Capital has provided a £21m developer exit loan to CKC Properties, supporting the refinancing of a purpose-built student accommodation (PBSA) scheme in Brighton.
The bridging loan will help CKC Properties pay off existing debt, stabilise the building during the main letting period, and boost the asset’s value ahead of a potential sale.
The property is located between the University of Sussex and the University of Brighton and offers 134 ensuite studios across three and four storey blocks, with communal facilities.
The short-term finance division at Maslow Capital structured the deal, which was introduced by Beckford Advisory.
Adam Ware, director of structured finance at Maslow Capital, said: “This £21m facility provides CKC Properties with the headroom to refinance the scheme, stabilise occupancy during the peak letting season and prepare the asset for its next phase.
“We are pleased to support the team at this pivotal stage in the project’s lifecycle.
“Although the facility sits at the higher end of the bridging spectrum, we remain committed to financing across the full ticket-size range – from granular loans of £300k upwards – backed by a specialist team with extensive experience in small and large deals.”
Geoff Thomas, CEO at CKC Properties, said: “Maslow’s flexibility and understanding of our objectives were instrumental in completing this transaction.
“Their approach aligned seamlessly with our business plan and provided the certainty we needed to move confidently into the next stage of the asset’s lifecycle.
“We value their partnership and look forward to future collaborations.”
John Kerrigan, partner at Beckford Advisory, said: “We are proud to have worked alongside CKC Properties and Maslow Capital on this deal.
“The transaction required a reliable lender with a clear understanding of the asset’s potential and the ability to act decisively, and Maslow delivered on all fronts.
“Their involvement will provide operational stability, enhance returns on investment and strengthen our clients’ position in an increasingly competitive market.”
