Global Student Accommodation (GSA) secures a £110m NatWest loan to develop three London and Bristol purpose-built student accommodation (PBSA) schemes.
Despite strong competition, NatWest secured the deal owing to its competitive debt structure offerings, consistency of execution excellence and strong relationship with GSA.
GSA will fund the Unity Street and Print Hall schemes on the edge of Bristol’s city centre, and The Curve in Aldgate East, London.
“We are delighted to continue supporting GSA with its investments into best-in-class PBSA assets across core markets in the UK.
“The PBSA sector remains a key growth market of our core real estate strategy, which continues to see high volumes of investment.
“As a bank, we remain committed to supporting the student residential market and we are proud to be supporting corporates such as GSA, who are providing high quality housing in cities where supply remains challenged.”
Eirini Kalamara, Relationship Director of Residential Development, NatWest
Unity Street and Print Hall are two separate buildings next to each other on the outskirts of Bristol city centre. Print Hall comprises a modern 267-bedroom PBSA building and Unity Street is a 226-bedroom development. Both are under nominations agreement with the University of Bristol.
The Curve is a modern 350-bedroom PBSA complex located in Aldgate East, London and is under nominations agreement with Northeastern University.
“The PBSA sector continues to demonstrate its resilience, underpinned by strong demand and opportunities to supply high standard accommodation. These fundamentals are recognised by NatWest, which we have an existing relationship with, and we look forward to deepening this partnership.”
Heather McKenzie, debt capital manager, GSA
GSA is a leader in real estate asset management within the student housing sector and is active across nine countries, with assets in 70 of the world’s leading educational cities. It manages $6bn of AUM and has flagship offices in New York and London.
GSA is part of The Dot Group, founded by Nicholas Porter, a pioneer in global student living with over 30 years of experience.
The Dot Group is a transformational force of market-leading businesses across the global student living economy shaping a better future for students and creating sustainable value for generations to come.
