Study Inn Group, the owner, developer, and operator of student accommodation, has completed the refinance of three recently created assets, taking total secured facilities for the group to £153m.
The Study Inn platform was established in 2009 to develop portfolios of high-quality, well-located student accommodation with particular emphasis on micro location in Russell Group and top 100 university cities. Once operational, its properties are stabilised at strong occupancy levels under the Study Inn brand and then consolidated and packaged for sale into the investment market, with or without ongoing branding and management.
This re-finance completes the consolidation of the group’s latest portfolio of assets in Bristol, Loughborough, Nottingham, Exeter, Leicester, and Leeds.
The group has a further property in development in Birmingham which will take the portfolio to over 2,000 rooms.
Study Inn said: “This is a key milestone in our long-term strategy, of bringing completed institutional grade assets under an efficient capital structure. These facilities reduce overall debt servicing costs, enhance financial stability, and provide the stable base upon which to continue the group’s expansion into key student markets.
“The due diligence which has to be undertaken to complete this type of consolidation underpins the strength of the portfolio and its value in the sector at a time when scrutiny is at its highest.”
