The £2.99m facility supported by investment company Assetz Capital will be used to extensively refurbish an existing building at Laisteridge Student Village in Bradford city centre. The redeveloped scheme will contain 169 student rooms across two blocks.
“Bradford has a continuing undersupply of quality purpose-built student accommodation (PBSA) and we are proud to play our part in supporting the repurposing of this building. The vision and spirit of the company to take a vacant property and assist the town by creating vital accommodation for its students is exactly the sort of proposal we seek to fund.”Ricky Humphreys, Relationship Director, Assetz Capital
This project responds to the pressing need for high-quality student housing, making Bradford an even more attractive destination for local and international students.
“We are delighted to have supported Auxilium Real Estate and their customer on this key scheme. With PBSA alone, Assetz Capital has provided over £52.9m funding the construction of over 959 beds across the UK, and we continue to support the development of PBSA, Build to Rent and traditional large-scale development.”Andrew Fraser, Chief Commercial Officer, Assetz Capital
According to the developer of Baseball Developments, advised by debt specialist Auxilium Real Estate, the new project aims to help address the housing supply for both local and international students looking to study in the city.
“This was a difficult loan to secure, and it required a skilled development lender like Assetz to understand a sub-market that isn’t particularly well known. Closing the debt is a great milestone for the borrower.”Niall Brown, Co-founder, Auxilium
Debt specialist Auxilium Real Estate focuses on structuring, sourcing, and executing finance across the capital stack.