Secure Trust Bank Real Estate Finance has refinanced a £18m facility for Q Investment Partners (QIP), on Straits Manor, a purpose built student accommodation complex in Sheffield.
QIP acquired the 11-storey development in 2017, and it currently comprises 284 units. It is managed by Prestige Student Living.
QIP owns just under 1,000 student beds in the UK, mainly in Edinburgh, Nottingham and Sheffield.
Ben Hall, head of investment at QIP, said: “We are heavily invested in the UK purpose-built student accommodation sector – it is an attractive and a high performing yet defensive asset class. The facility from STB REF will enable us to pursue our ambitions to acquire more high-quality assets in the sector.”
Source: Residential - propertyweek.com
