UXCO Group lsecures €300M refinancing for Ecla student housing and coliving Assets.
UXCO Group has completed a record €300m refinancing deal for three of its Ecla student housing and co-living properties, located in Villejuif, Noisy-le-Grand, and Palaiseau in the greater Paris region. These assets represent a total area of nearly 100,000m2 and 3,800 beds.
This €300m transaction aims to refinance existing mortgage debts and was executed by a pool comprising Blackstone Real Estate Debt Strategies (BREDS), BNP Paribas, and Societe Generale.
This refinancing is one of the largest ever completed for student residential assets in France, highlighting the strong confidence in UXCO Group despite a challenging period for the real estate sector.
UXCO Group was advised by Gibson Dunn and C&C Notaires. The lenders were represented by A&O Shearman and Wargny Katz.
Nicolas Castanet, Managing Director, Group CFO and Member of Management Board of UXCO Group, stated: "The confidence of the banking consortium in refinancing this Ecla residence portfolio underlines the resilience of our model and the reliability of our group for investors."
Image source - Pexels.
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