NatWest has provided £82.6 million of funding to support Rosethorn Capital Partners and Eagle Street Partners with the acquisition and repositioning of three purpose-built student accommodation (PBSA) assets in Birmingham, Edinburgh and London.
The financing will support the acquisition of Selly Oak Court in Birmingham, Haddington Place in Edinburgh and Glassyard in Stockwell, London, alongside a significant programme of building safety, sustainability and quality improvements across all three properties.
Together, the assets provide more than 900 student beds in three of the UK’s strongest university markets.
Selly Oak Court comprises 329 beds in one of Birmingham’s strongest student locations, while Haddington Place provides 240 beds close to Edinburgh city centre and major transport links. Glassyard comprises 340 beds in South London and is predominantly leased to the University of the Arts London.
The funding will support a programme of cladding remediation, compartmentation and fire door improvements, ESG enhancements and targeted refurbishments designed to improve resilience and enhance the resident experience.
The transaction supports NatWest’s Growing Together campaign, which champions investment in the homes, infrastructure and places that enable communities and regional economies to prosper.