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LaSalle plans to invest in student residences
03 July 2019 | Vanessa Sousa

LaSalle Investment Management announces that it has extended its first development loan of 20.5 million euro for student accommodation in Granada, Spain.

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The development is a 360-bed purpose-built student accommodation and the proposed scheme will be approx. 10,495 sqm across two buildings. In addition, the scheme will provide desirable and high-quality amenities such as a swimming pool, a multi-sport court, cinema room and study library.

The global real estate investment manager has extended its development loan from the expanded LaSalle Residential Finance Europe programme (LRF) to Amro Real Estate Partners.

LRF provides stretch senior and higher-leverage financing solutions for developments at loan-to-cost ratios of up to 80 per cent, with loans ranging from 20 million euro to in excess of 100 million euro. The expansion into Continental Europe will provide loans primarily for the development of student accommodation. This is in addition to LRF’s current development lending activities in student housing, residential, hotel and healthcare development lending throughout the UK.

 

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