Zenzic Capital today completed on another mezzanine loan facility, this time successfully deploying capital into a Purpose Built Student Accommodation (PBSA) scheme in Nottingham.
The facility goes towards the completion of the project to ensure it is finished in time for the 2019/2020 student intake, with over 70% of units already reserved. The development, situated in the popular Hockley area of Nottingham, comprises a 131 bed student accommodation with two retail premises at basement and ground floor level, offering a good mix of income from cluster accommodation, studios and commercial premises.
“This transaction signals the wider diversification strategy of Zenzic to enhance our existing residential offering and move into other bed sectors, such as student accommodation, with other sectors to follow.”
Zenzic Capital’s Investment Partner, Daryl Thorpe
