"We are pleased to complete our fourth deal with one of our longstanding clients, Curation Capital. Our continued partnership is a great indication of the support we provide to our clients"
- Christopher Stallard - Leumi UK
Specialist lender Leumi UK has agreed to provide a £33m loan to Curation Capital, which invests exclusively within the living sector in the UK across Purpose-Built Student Accommodation and Built-to-Rent, to acquire and refurbish an established 416-bed student accommodation development in Newcastle.
Christopher Stallard, Relationship Director at Leumi UK, said: “We are pleased to complete our fourth deal with one of our longstanding clients, Curation Capital. Our continued partnership is a great indication of the support we provide to our clients.
"This is especially crucial in the student accommodation sector, where timely completion is essential to accommodate students before the start of their first term at university. Newcastle has two highly regarded universities and is a market that is underserved in purpose-built student accommodation, with Savills estimating that around 3/5 of full-time students are not catered for.”
Michael Haverty, Partner at Curation Capital, said: “Once again, collaborating with the Leumi team has been an absolute pleasure as they continue to demonstrate a clear understanding of our business objectives, project goals and timelines.
"Their personalised approach ensures fast and reliable responses, coupled with the expert knowledge essential for efficiently closing our deals. This was particularly important in this circumstance as they successfully closed the deal within just 4 weeks.”
Stephenson Harwood provided legal counsel while Savills advised on valuation for Leumi UK.
