First supported by Karis Capital’s CEO and co-founder Nicholas Christofi (pictured above) in 2022, a PBSA developer was able to secure suitable financing to refinance a permitted development block.

At the beginning of 2025, Karis Capital then also delivered funding to convert the residential block into 219 student apartments.

At the end of last year, the brokerage restructured the debt on the site to a total facility of £40.1m, with the additional funding further supporting the developer’s current pipeline ambitions of delivering 3,000 new student homes across the next five years.

Nicholas commented: “It has been a real privilege to work with both InterBay Commercial and our long-term PBSA developer client on what we call ‘lifecycle lending’ for such an impactful project, which meets the ever-growing demand for premium student accommodation in the UK’s Capital.

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“Not only has the process of structuring this deal been truly rewarding in terms of seeing such a significant PBSA development finally come to fruition, but the scale of this facility has also surfaced as one of the largest deals that Karis Capital has brokered in 2025.”

Marc Callaghan, head of commercial lending at InterBay, said: “We’re delighted to have supported this significant PBSA development through a tailored loan structure that enabled the project to progress seamlessly from refinancing the conversion and now into long-term debt.

“Working with Karis Capital has been an exceptional experience — their expertise and collaborative approach ensured that every stage of the process was efficient and aligned with the client’s ambitious growth plans.

“We greatly value our partnership and look forward to delivering more innovative funding solutions together.”