UK: The backing of a PBSA scheme in Cardiff by Housing Growth Partnership has taken the Lloyds-backed equity investment past the £500 million mark.
Since 2015, HGP has supported 88 partners and helped fund the delivery of 13,400 homes across the UK.
The latest deal involves an equity commitment of £4.9 million, alongside developer Urban Centric, to develop Trafalgar House in the Welsh capital.
This is the second transaction between HGP and Urban Centric and will see the former office building converted into an eight-storey PBSA with 310 beds.
The scheme will target an EPC rating of A, and will include yoga rooms, lounges, cinemas, two roof terraces and 132 cycle spaces
Mike Murphy, investment director at HGP, said: “This transaction takes the total amount of equity HGP has committed since 2015 to over £500m, which is a phenomenal achievement by the team. It demonstrates the uniqueness of our proposition, with partners attracted by our track record, funding certainty and deep expertise, including access to a 20-strong senior advisor panel, as well as our commitment to delivering meaningful social impact across the UK.”
Tom Larkin, acquisitions director at Urban Centric, added: “This development reflects our shared commitment to creating modern, well-connected living spaces that enhance the student experience while contributing to the city’s vibrant community.”
