Development finance lender Atelier has provided a £32.7m loan to MCR Property Group for the refinancing and refurbishment of Parham Student Village, a 600-bed purpose-built student accommodation scheme in Canterbury, Kent.
The 15-month loan will fund improvements to the existing student housing asset. Atelier completed the transaction in 19 working days, with operational arrangements already in place for the site.
Flow Student, MCR’s student accommodation operating brand, manages the property and will oversee operations during the refurbishment works.
PBSA market activity
MCR expanded its presence in the purpose-built student accommodation market during 2025, adding developments and acquisitions across major UK university cities. The company is developing that portfolio through Flow Student, which focuses on essential services and quality accommodation.
Matthew-Blaine Young, head of origination at Atelier, said: “We are delighted to support MCR with the financing to develop and refurbish this existing PBSA asset. Our team delivered on our clients’ need for efficiency on this deal, with a transaction time of only 19 days.”
David Tracey, chief operating officer at MCR Property Group, said: “This was our first transaction with Atelier, and they were extraordinary in both service and delivery. The team demonstrated a clear commercial understanding of the PBSA sector, combined with a disciplined and responsive approach to loan structuring.”
The transaction marks Atelier’s continued activity in the student accommodation finance sector, whilst MCR’s expansion reflects ongoing consolidation in the UK PBSA market as operators seek to grow their portfolios in established university cities.
