Student accommodation developer University Partnerships Programme (UPP) has secured financial close on £139.7m funding to take on the largest extension of the University of Exeter’s Streatham Campus in nearly a decade.
The funding comprises of £125.1m of index-linked debt financing on a 48-year term from Pension Insurance Corporation and £14.6m of subordinated debt and equity raised with UPP’s REIT structure. The PIC financing takes the amount the specialist insurer of defined benefit pension funds has invested in UPP schemes to £530m.
You must be logged in to view premium stories.
Take out a print and online or online only subscription and you will get immediate access to:
To get access to premium content subscribe today
Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts