Atelier completes £32.7m loan to fund refurbishment of 600-bed PBSA scheme
By Bridging Loan Directory
Development finance lender Atelier has today announced the completion of a £32.7m loan, to MCR Property Group for the refinance and refurbishment of Parham Student Village, a 600-bed PBSA block in Canterbury, Kent.
The loan, structured over a 15-month term enables the refurbishment of an existing student asset. The loan completion took just 19 working days, with operational plans already in place with Flow Student, MCR’s student operator, running the site.
In 2025, MCR significantly expanded their PBSA footprint, with a strong pipeline of new developments and acquisitions across major university cities.
This next phase of growth is powered by Flow Student, their new brand platform.
Flow Student has been built around the real needs of today’s students and focuses on essential, high quality and experience-led living.
Matthew-Blaine Young, Head of Origination at Atelier, commented:
“We are delighted to support MCR with the financing to develop and refurbish this existing PBSA asset.
Our team delivered on our clients’ need for efficiency on this deal, with a transaction time of only 19 days.
Excellent communication and collaboration between all teams made this possible”.
David Tracey, COO at MCR Property Group, commented:
“This was our first transaction with Atelier and they were extraordinary in both service and delivery.
The team demonstrated a clear commercial understanding of the PBSA sector, combined with a disciplined and responsive approach to loan structuring.
Their ability to move decisively, and quickly while maintaining rigorous underwriting standards gave us confidence at every stage of the process.
We look forward to building on this relationship.”
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