The scheme is due for practical completion in June 2026.
The unnamed developer is using the facility to support the scheme’s construction, with a refinance onto term finance forming the intended exit.
Full planning consent has already been secured for the freehold city site.
HTB lending director Tim Mycock, who led on the deal, said the lender had to work quickly in order to meet time-sensitive requirements.
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“The cyclical nature of student intake means missed deadlines simply aren’t an option - with this deal, we were able to structure a facility that gave the developer confidence and allowed for the right build programme to hit key dates,” added Tim.
“My own background in this sector helped us anticipate the pressure points and move quickly when it mattered. It’s a great example of how our sector experience translates into practical, reliable funding.”
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