en.Wedoany.com Reported - The UK's Secure Trust Bank Real Estate Finance division has provided a £44.3 million loan for the refinancing of three purpose-built student accommodation assets located in Glasgow, Sheffield, and Leeds. These student accommodations were developed or refurbished by Urbanite, a specialist student accommodation developer backed by private equity firm Prescient Capital.

The portfolio includes Clyde Court in Glasgow and Electric Press in Sheffield, both recently constructed student accommodation schemes. The third location is The Leatherworks in Leeds, which comprises a listed building and features a gated access. Prescient Capital utilized this three-year loan to refinance the student accommodation portfolio and stabilize the assets while determining their long-term strategy for the properties.

This transaction was introduced to Secure Trust Bank by Clive Offord of Cofford & Co Property Finance. Doug Friend, Director at Prescient Capital, stated that the company's primary considerations were securing competitive pricing and a reliable delivery timeline for a substantial refinancing. Friend said, "We hadn't worked with Secure Trust Bank before, but our longstanding contact Clive Offord had heard good things about their performance."

Danny Thornton, Relationship Director at Secure Trust Bank Real Estate Finance, noted that this student accommodation loan required overcoming challenges associated with financing three student accommodation locations across the UK. The bank remains active in the student accommodation market and in the northern regions of the UK.

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