Walkers' Jersey Team Advises On £205 Million Financing Of Student Housing

Walkers' Jersey office has advised on the Jersey law aspects of the refinancing of a major portfolio of premium UK student accommodation.

A team led by partner Nigel Weston advised Singapore Press Holdings Limited on the £205 million refinancing of a portfolio of 20 purpose-built student accommodation buildings across eight cities including London, Glasgow, Bristol and Birmingham.

The Walkers team included senior counsel Louise Hamilton, senior associate Bella Ward and associate Meg McAuley, working with lead counsel CMS.

Interest in UK student accommodation assets has held up in the face of Brexit, and the deal is another example of investors focusing on real estate in the regions outside of London.

Nigel said: "We see significant interest from Asian investors in UK real estate assets, but while the high profile deals that attract most attention tend to relate to ultra-high value commercial property in the City, the interest goes far beyond that – and student accommodation in the regions is a good example of an area where a lot of deals go unremarked.

"We are very pleased to have advised on another deal of this kind, and to have had the opportunity to work with Caryn Penley and the team at CMS to bring this matter to a successful conclusion on behalf of our clients."