Osborne Clarke has advised Equitix on a £159M loan to finance the development of high-specification student living and communal space at the University of York’s Heslington East Campus.
The loan will finance the development of two new colleges creating 1,480 new bedspaces for students. The halls will house undergraduate and postgraduate students in en-suite rooms.
The new accommodation will be built by Graham Construction who will deliver the bedspaces across two phases starting in September 2021 and then in September 2022. Derwent Facilities Management will maintain the halls during the project term. Equitix will also provide management services and oversee the new residences once operational.
Equitix is making the investment out of its recently closed Equitix Fund V. Assured Guaranty has guaranteed the principal and interest payments on the loan which was provided by the Pension Insurance Corporation.
Equitix is an investor, developer and long-term fund manager.
The Osborne Clarke team was led by Partner Chris Wade (Picture), supported by David Smith, Amy Dimond, Leanne Hooper, Grace Hodgkinson, Jasdeep Puri, Andy Normington, Jonathan Culley, Sarah Knight, Jonny Gait and Kristen Harris.
Involved fees earner: Jonathan Culley – Osborne Clarke; Amy Dimond – Osborne Clarke; Jonny Gait – Osborne Clarke; Kristen Harris – Osborne Clarke; Grace Hodgkinson – Osborne Clarke; Leanne Hooper – Osborne Clarke; Sarah Knight – Osborne Clarke; Andrew Normington – Osborne Clarke; Jasdeep Puri – Osborne Clarke; David Smith – Osborne Clarke; Chris Wade – Osborne Clarke;
Law Firms: Osborne Clarke;
Clients: Equitix ;