Student developer Future Generation has agreed a £55m development facility from Maslow Capital, to fund two schemes in Loughborough and Nottingham.
It brings the total borrowing from Maslow Capital to over £150m across five schemes to develop 2,029 student beds.
The partnership between Southern Grove and Tadhamon Capital will use Maslow’s latest facility to build 943 student beds across the two sites.
It is set to start on site imminently at the £45.3m Luxurio in Loughborough, comprising 458 bedrooms in a mixed-use scheme, designed by Rio Architects. It will be one of the first PBSA developments in the town centre.
The Vantage in Nottingham (pictured) will provide a further 485 bedrooms, with a sky lounge and an end value of £48.3m.
Ellis Sher, co-founder of Maslow Capital, said: “The demand for this type of student scheme has still not been met in a number of densely populated areas of the UK.
“It is for that reason we have a division dedicated to PBSA, and we will continue to exploit deep knowledge of the sector to fund the right opportunities.”
London-based developer Southern Grove teamed up with Bahrain investor Tadhamon Capital in 2017 to establish Future Generation.
The partnership has a target to build 10,000 student beds in five years. Its current portfolio comprises 553 operational beds, 1,476 under construction and a pipeline of 2,000 beds.
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