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.
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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