Ankor agrees refinancing and sets sights on £100m+ JV

Ankor cube portfolio

The company is looking to form joint venture with Far Eastern investors to raise war chest of at least £100m.

The company has agreed a £17.5m refinancing package with OakNorth that is secured against Ankor’s The Cube portfolio, consisting of two purpose-built student blocks in Ealing and Greenwich.

The new facility, agreed at 65% loan-to-value and 4.5% plus LIBOR, replaces development funding from Octopus and represents OakNorth’s first foray into the student accommodation sector.

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