UK: The Bank of London and The Middle East (BLME) has provided £45 million in financing to support two PBSA projects backed by Urbium Capital in York and Nottingham.
The deal includes an £18.5 million, 20-month development loan for a new-build scheme in York, managed by a subsidiary of the Urbium Living Fund I.
Scheduled to complete in mid-2026, the development will deliver 131 studios and two one-bedroom apartments, located close to York city centre and both the University of York and York St John University.
In Nottingham, BLME has provided a £26.3 million, three-year refinancing facility for The Arcadian, a 293-unit student scheme that was completed in September 2024, following an earlier 18-month development loan BLME issued in June 2023.
The project is currently managed by Homes for Students under its Evo brand and is fully let for the 2024–2025 academic year, with lettings for 2025–2026 also reported to be strong.
Urbium Capital, a London-based private equity real estate manager, focuses on residential and student assets in the UK and represents a global investor base, including GCC institutional capital.
James Procter, director of real estate finance at BLME, said: “These deals highlight the continued resilience of the PBSA sector and demonstrate BLME’s ability to support both the delivery and long-term ownership of high-quality student housing through tailored finance solutions.”
Urbium founder and CEO Suliman Aujan added: “These financings represent another step in our strategic partnership with BLME and reflect Urbium Capital’s focus on delivering high-quality residential assets for our international investor base.”
