Maslow Capital is facilitating the development of two student accommodation schemes in the heart of Leeds and Lancaster with a finance package totalling c. €73.7m. Two loans will enable a joint venture between H.I.G. Realty Partners, the dedicated real estate investment affiliate of H.I.G. Capital and Primus Property Group to deliver a total of 790 student beds across two university cities.
€41.68m will be allocated to the development of a world-class student accommodation scheme in Leeds. This scheme will introduce 402 state-of-the-art studios optimally located on Regent Street, less than a mile east of Leeds City Centre. This central location ensures that students will be close to both the academic and leisure facilities the city has to offer.
A further €37m will support the development of a second student accommodation scheme in the city of Lancaster. This project’s desirable riverside setting will introduce a further 388 state-of-the-art studios. Both projects will offer a range of industry leading amenities, including games rooms, common living areas, private dining rooms, group study spaces, cinema rooms, gyms, yoga studios, and vibrant outdoor social areas.
Sky Mapson, Director, Deal Origination at Maslow Capital said: “We are delighted to deepen our relationship with two top-tier clients, through the funding of these transformative projects. Our extensive experience in the sector, having funded a significant number of student accommodation schemes resulting in the creation of 3,916 student units since our inception, underscores Maslow's steadfast commitment to supporting the development of high-quality living sector assets in locations where demand exceeds supply."
Rachael Gordon, Head of Deal Execution at Maslow Capital said: “The notable increase in the international student population in both Leeds and Lancaster has intensified the demand for high-quality student accommodation in these cities. The early reservation of properties and the heightened demand for homes within walking distance of universities are trends apparent in both cities. With esteemed universities experiencing a surge in enrolments, the supply of purpose-built student accommodations is pivotal.”
Duncan Melville, Director at Primus Property Group said: “The development of these two projects exemplifies our ambition to craft state-of-the-art student living experiences across the UK. Partnering with Maslow Capital, a proven name in the sector, assures us of the strength and reliability that comes with decades of experience in student accommodation financing. We are confident that together, we will set new benchmarks in student living, combining luxury, convenience, and community spirit.”
The H.I.G. Realty Partners and Primus Property Group joint venture was advised by JLL.
