The funding will be used to construct a 1,068-unit scheme at 30 Marsh Wall, directly south of West India Docks.

The 48-storey tower will feature eight-unit types, ranging from 18 to 46 sqm.

A gym, cinema, games room, co-working spaces and food and beverage options will be included in this design.

Construction is expected to complete in September 2028 with Tide Construction serving as developer and contractor.

This is the eighth financing transaction between Eldridge and Vita, bringing this total support to £1bn and the delivery of 6,000 beds across the UK and Europe.

•   The Finance Professional Show 2024: The Video
•   Maslow funds Camden development with £115m
•   Puma funds Newcastle PBSA with £43m

John Cole, global head of real estate credit at Eldridge Capital Management commented: “Our continued partnership with Vita Group represents an important step in tackling the pressing need for purpose-built student housing, while also supporting the transformation of Canary Wharf into a vibrant residential area.

“As the UK’s largest student market, with 42% of its population coming from overseas, London faces a significant shortage of high-quality accommodation.

“This development will help address that gap, providing a first-class living experience in one of the world’s foremost education hubs.”

Ioannis Verdelis, chief investment officer at Vita Group, added: “With its prime location in Canary Wharf and an unmet demand for student accommodation, this project represents an exciting opportunity to introduce Vita’s exceptional living experience to a new market.”