UK: Student accommodation developer and operator Fusion Group has secured a £500 million whole-loan facility from development finance provider Maslow Capital to fund five purpose-built student accommodation (PBSA) projects.
The developments across Birmingham, London, Loughborough, Glasgow and Cardiff will deliver a combined total of 3,138 student beds.
The loan, structured by Maslow Capital’s UK and Europe development finance team, is one of the largest single-lender debt packages ever arranged for UK PBSA. The five schemes have already been consented to and are scheduled for delivery between 2027 and 2028.
All assets will be operated under Fusion’s management platform, which is on track to oversee more than 11,200 beds by 2030. Each scheme will offer a range of premium amenities including study areas, gyms, yoga studios, padel courts, private dining rooms and landscaped outdoor spaces.
The announcement comes amid ongoing constraints on new PBSA supply, with fewer than 17,500 new beds forecast to complete during the 2024/25 academic year.
Fusion’s expansion aligns with UCAS projections that applicant numbers could rise by up to 30 per cent by the end of the decade.
Daniel Harris, chief investment officer at Fusion, said: “This landmark deal is a testament to the attractiveness of the UK’s living sectors and, in particular, the purpose-built student accommodation market in which Fusion has built a successful track record.”
Maslow Capital co-founder and CEO Ellis Sher said: “By providing £500 million of long-term capital, Maslow is helping Fusion turn plans into bricks and beds efficiently and at scale.”
Highlights:
• Fusion secures £500 million loan from Maslow Capital to fund five PBSA developments
• 3,138 student beds to be delivered in Birmingham, London, Loughborough, Glasgow and Cardiff
• Projects are set for completion between 2027 and 2028, with planning already in place
