The 16-month term loan will help the client carry out a significant refurbishment and reconfiguration programme of an existing PBSA asset.

The new scheme will offer modern and comfortable living spaces, as well as a wide range of high-quality social and wellbeing amenities — including bookable kitchen/dining and games spaces, social and events space, residents lounge, individual and group study areas, laptop bar, gym, laundry and internal cycle storage facilities.

The internal fabric of the building will undergo extensive modernisation, introducing cutting-edge variable refrigerant flow heating and cooling, smart controls and building management systems.

The scheme will also feature new double-glazed windows and insulation to improve the building’s appearance and energy performance credentials.

Mark Nixon, managing director at Finance 55, introduced and brokered the deal.

Emma Burke, head of deal origination at Maslow Capital, said: "We are delighted to support this exciting new PBSA project.

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“Our team’s commitment and efforts enabled us to complete this transaction from credit approval in just eight weeks, which is a testament to our dedication to providing swift and efficient financing solutions.”

Raj Sehgal, director at Union Property Services, added: “This project is an important part of our PBSA development programme where a key focus is to deliver well-designed schemes that meet the modern needs of the students, along with offering strong sustainability and energy performance credentials. 

“The enhancements to the accommodation reflect our current priorities: the day-to-day happiness of our residents, and the wellbeing and safety of all those who live and work in our buildings.

“The Union Property team are excited to be working with Maslow on this high-profile development and are looking forward to building our relationship across our broader portfolio.”

This latest completion further confirms Maslow’s commitment to supporting UK property developers — to date, the lender has completed over 250 loans, including a £258m facility for a 462-home prime residential-led scheme in Kensington, west London.