Specialist real estate finance provider Maslow Capital has provided a £29m development finance facility to support the delivery of a 189-bed Purpose-Built Student Accommodation (PBSA) scheme in Oxford.
The site will offer premium student living with a range of amenities, including a games room, cinema, co-working spaces, gym, and private dining area.
The scheme is being delivered by Prima, Real Living and Cantay Estates and Torsion Construction has been appointed as the main contractor.
Sky Mapson, senior director, origination at Maslow Capital, said: “This transaction is a great example of what we look for when deploying capital into the PBSA sector – strong fundamentals, experienced counterparties and a location where demand materially outstrips supply.
“It has been a pleasure to support Prima, Real Living and Cantay Estates on this opportunity, and we look forward to watching this scheme progress.”
Rachael Gordon, head of deal execution (UK & Europe), said: “We are pleased to support another high-quality PBSA scheme alongside an experienced team.
“This transaction adds to a growing list of student accommodation projects we have funded and reflects our ongoing commitment to tackling the structural undersupply of purpose-built student housing across key UK and European university cities.
“With a strong pipeline and deep sector expertise, we remain focused on supporting the delivery of best-in-class living sector assets.”
Ben Hall, CEO and co-founder at Prima, said: “We are delighted to be working alongside Maslow Capital to deliver this exciting new scheme in one of the UK’s most iconic university cities.
“Their understanding of the PBSA sector and collaborative approach made them an ideal partner for this project.
“Together with Real Living and Cantay Estates, we look forward to delivering a high-quality scheme that meets the needs of today’s student population.”
