Urbanest Refinances £640m London Operational Portfolio
Bridge Loan:- Central London student accommodation operator and developer Urbanest has refinanced its five-asset, £640m operational portfolio in one of the year’s biggest real estate transactions, CoStar News can reveal. Urbanest has reached a bilateral agreement with funds managed by M&G Investments and Aviva Investors Real Estate Finance for a £350m senior facility secured against Urbanest’s 2,520-bed portfolio of purpose built student accommodation. The refinancing represents a bridge loan-to-value ratio of 55% which implies a valuation on the whole portfolio [...]