An unnamed experienced developer appointed Arc & Co to structure and arrange the facility, with HTB providing the funding.

Construction has begun with completion being targeted in time for the 2027/28 academic year.

“PBSA remains a highly active sector for Arc & Co, and we were very pleased to support the sponsor on this important Nottingham scheme,” said Philip Kay, director at Arc & Co.

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“Our role was to structure and arrange a funding solution that aligned with the developer’s requirements, and HTB proved to be an excellent partner throughout the process.”

Andrew Dignum, lending director at HTB, added: “The £21.5m facility underlines HTB’s capability in structuring and funding large student accommodation developments in key regional markets, and it has been a pleasure to work in partnership with Arc & Co. to deliver this transaction.

“We look forward to seeing the scheme progress and to building on this new relationship.”