£25.7m loan secured for London PBSA scheme
Blog Post | 09/01/2024
White Rose Finance has successfully arranged a £25.7 million loan facility with Octopus Real Estate for a significant property development in central London.
This deal, orchestrated by relationship manager Matthew McCarron-Shipman, enabled the client to secure a site approved for a 24-storey, 244-bed Purpose-Built Student Accommodation (PBSA) scheme.
The funding was crucial as the comprehensive development loan package was not ready before the hard stop date of the agreement. The process included the additional challenge of arranging a VAT loan, adding complexity to the transaction but successfully managed.
John Kent, managing director of White Rose Finance, commended the team’s collaboration with their AR network, resulting in favourable terms for an experienced client and ensuring timely completion of the deal.