Investec backs Cardiff PBSA with £19m loan

By Richard Hook2018-12-17T12:22:00

Investec Structured Property Finance has backed Crosslane Property and Harrison Street Real Estate’s development of a 391-bed purpose-built student accommodation scheme in Cardiff with a £19.4m senior loan.

The Howard Gardens scheme is the fifth development under Crosslane’s joint venture with Harrison Street, and brings the total gross development value of the duo’s portfolio to £180m across 1,685 beds.

Investec has provided £19.4m debt financing for the development of the Cardiff scheme, at which construction has begun today, in addition to £59m it is already providing for the development of the JV’s Coventry, Portsmouth and Swansea schemes. The JV, originally announced in January, has a fifth scheme now underway in Leeds, funded by Yorkshire Bank.

This is premium content

You must be logged in to view premium stories.

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

Breaking industry news as it happens
Expert analysis and comment from industry leaders
Unlimited access to all stories, including premium content
Full access to all our online archive

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

If you are already a registered user or a subscriber you can SIGN IN now