Atelier funds successful PBSA development through to refinancing completion

By

warwick building

Atelier has completed the successful funding cycle of a purpose-built student accommodation scheme, with the borrower refinancing the development following practical completion and stabilisation.

The project, a joint venture between Zenzic and Torsion, was constructed and developed by Torsion.

It comprises a 196 studio purpose built student accommodation building near the University of Warwick, delivered with amenity features including a gym, private dining room and rooftop terrace, and managed by Torsion backed LUNA.

The scheme is 100 percent occupied. Atelier provided a £26.2 million development loan to support delivery through construction and completion, working closely with the borrower to meet a tight build programme ahead of scheduled occupation.

Now operational and refinanced, the scheme marks a successful transition from development funding into long-term investment ownership, an outcome that reflects the strength of collaboration across the funding and delivery teams.

Dan Spencer, Founder & CEO of Torsion Developments, commented:

“It’s been great delivering this scheme with Atelier, something that’s only possible with the right funding partner and a genuinely collaborative approach throughout the development journey.”

Chris Gardner, Atelier CEO, added:

“The repayment of a facility of this scale is an important milestone for both borrower and lender.

It demonstrates how collaboration across the sector enables schemes to move successfully through the full cycle of development and investment.”

Google NewsFOLLOW ON GOOGLE NEWS