Nottingham PBSA Scheme
Case Overview
The scheme; a 105 bed purpose built student accommodation (PBSA) within walking distance of Nottingham Trent University. The accommodation comprised of a mixture of studio and cluster apartments.
A £5.3m facility was secured for the client by against a GDV of £8.5m (62.5% LTGDV) and at 80% LTC. The scheme marked a notable step up in size for the developer, but through MontpelierPF the lender was able to get comfortable enough with the transaction to provide the development facility.
Montpelier Private Finance has a deep understanding of the UK & Ireland student accommodation market, and works with a wide range of funding partners. Contact us here for more information.
PBSA Funding Solutions
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Funding available for both direct lets and nomination agreements
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Preferred terms for Russell Group locations
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Standard construction and modular propositions welcome
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90% LTC stretched senior debt funding / 75% Loan to Gross Development Value (LTGDV) (lower there of); keeping the transaction a pure debt proposition, rather than give away equity/profit share
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Mezzanine finance up to 75% LTGDV
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Hybrid mezzanine/equity finance for higher LTC's
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Joint venture/equity to sit on top of senior debt
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Commercial term exit lending for completed schemes
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No maximum loan