Tatiana secures £9.4m refinancing deal for Nottingham student development
Tatiana Limited has secured a £9.4m refinancing of Russell View, its 210-bed purpose-built student accommodation (PBSA) development in Nottingham.
The investment loan from Secure Trust Bank Real Estate Finance will allow the property investment and development firm to expand its existing portfolio of residential assets.
Managed by CRM Students, the UK’s leading provider of student accommodation, Russell View was built in 2012 and remains a popular choice for many of Nottingham’s students. Its location is a 15-minute walk to both the city centre and Nottingham Trent University’s city campus, while the University of Nottingham’s main University Park campus is easily accessible by public transport.
Raj Shah, agent for Tatiana Limited, said: “The refinancing of Russell View is key to Tatiana Limited’s growth plans and will ensure we can continue to develop similar high-quality residential assets around the country. The support we had from Secure Trust Bank was exceptional from start to finish and enabled us to finalise the deal without delay.”
Secure Trust Bank Real Estate Finance currently supports £145m of PBSA assets having established firm credentials in the student accommodation sector over the last five years.
David Burke, Relationship Director at Secure Trust Bank Real Estate Finance, added: “We’re pleased to have helped Tatiana with its refinancing of Russell View – a deal which is typical of the high-calibre assets we look to support in the student accommodation sector.
“Our strategy is to grow our frequency of lending to properties close to universities in the top half of The Times university league table as we recognise the consistently strong levels of demand and occupancy that are indicative of the sector’s long term growth prospects.”
Daniel O’Neil, Director at London-based broker, SPF Private Clients, advised Tatiana Limited.