The complex transaction brings together Downing LLP as senior debt provider and Hame Capital as equity partner in a strategic joint venture with the sponsor, Colico Living.

The financing package included a circa £26m senior development facility from Downing, alongside a preferred equity investment from Hame Capital.

Structured at approximately 68% LTGDV and 77% LTC, the facility is designed to support the full delivery of the scheme.

The project is the culmination of more than a year of advisory work led by Arc & Co senior broker Corey Dennis.

The team had to overcome a series of hurdles, including managing intricate valuation challenges and a total redraft of the planning application to address amenity space requirements, before approval was secured.

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Corey commented: “This was a complex, multifaceted transaction, given the scale of the project and the extensive planning process. We carefully structured the funding package to ensure the scheme was fully capitalised while supporting the sponsor’s overall strategy.

“It was about finding that specific alignment between Downing and Hame Capital that truly recognised the project’s long-term value.”

Will Powell, investment director at Downing, added: “We were delighted to close this significant funding package for an experienced and capable sponsor delivering a well-designed student scheme in central Bristol.

“The financing came with a number of complexities concurrent with this type of deal, and we are looking forward to seeing the project progress over the coming months.”

The development is well located to serve both of Bristol’s main universities and is now in a position to progress through Gateway 2, with construction slated to begin in early 2027.