Apollo Global Management has secured a £100m loan from LaSalle Investment Management’s fourth European real estate debt fund – LaSalle Real Estate Debt Strategies IV – to refinance its acquisition of Pavilion Court – a purpose-built student accommodation (PBSA) asset in Wembley, London.
Pavilion Court is a fully leased 699-bedroom PBSA scheme which includes a mix of Silver En Suite, Silver Studio, and Skyline Platinum En Suite rooms. Amenities include a 24-hour games room, on-site café, TV lounge and study rooms. The development also has the added benefit of CCTV and an on-site residents’ team.
Each room is thoughtfully furnished with a small double bed. Adequate storage solutions ensure that personal belongings are neatly stored away, while the workspace in each room creates an ideal environment for studying and academic pursuits.
“We are delighted to be able to offer Apollo Global Management a bespoke and creative capital solution to support this acquisition.
“The building is in prime position to attract domestic and international students looking for high-quality, amenity-rich and centrally located accommodation that provide quick access to universities. We look forward to expanding our footprint in this segment of the market.”
David White, Head of Real Estate Debt Strategies, LaSalle
In recent times, the Wembley area of London has become a student favourite for those seeking both convenience and excitement in London. Apollo’s Pavilion Court PBSA scheme is an easy commute to nearby universities including UCL, the University of Westminster, and Middlesex University.
Wembley Park Station on the Jubilee and Metropolitan lines connects residents to Central London in just 20 minutes.
“We are pleased to have worked with an institutional party like LaSalle in the financing of this landmark asset for which we continue to see multiple value creation levers to be implemented over the life of our business plan.”
Samuele Cappelletti, Partner, Apollo
