Arc & Co. structures debt and equity facility for £36m PBSA scheme

By

East London Boutique

Specialist capital advisory firm Arc & Co. has closed a 70% LTV debt package in partnership with Ingenious Capital Management, whilst also sourcing a JV equity investor to support the development of a purpose-built student accommodation project in Tower Hamlets, London.

Southern Grove is developing the 111-bed, £36m GDV scheme in a joint venture with Falco Group.

Andrey Redman, Director at Arc & Co., structured the debt and equity with the Ingenious and Falco teams, respectively, over a period of eight weeks.

Andrey commented:

“It is a pleasure to support ambitious developers who are acquiring and building to provide much-needed homes in the popular PBSA, BTR and co-living sectors.

Arc & Co. has the necessary expertise and deep relationships to source funding partners that have the right appetite and experience to back these ambitious strategies.

Our advisory approach ensures that the structuring results in the best possible outcome for the borrower, now and as part of their future business plans.

We are excited to support all parties as they bring their strategies to fruition.”

The Tower Hamlets scheme will have a gross internal area of 43,249 sq ft, 5,382 sq ft of which will be commercial space.

Construction is set to begin in Q4 this year.