Study Inn Group, the owner, developer and operator of boutique serviced student accommodation, has refinanced its second portfolio of student accommodation assets with facilities totaling £161 million.
The Study Inn platform was set up to design and develop quality and well-located student accommodation portfolios in key cities. Once operational, assets are stabilized at 100% occupancy under the Study Inn brand before being sold to the investment market, with or without continued branding and management.
Following the sale of Study Inn’s first £135m portfolio to Arlington Advisors in 2017, the group has created its second generation of completed assets in Bristol, Loughborough, Nottingham and Exeter, with further developments currently underway. in Leicester, Nottingham and Leeds.
Study Inn Group’s Chief Financial Officer, Marcus Hook, said, “Refinancing development assets once they are complete and operational is a key step in consolidating the portfolio. This allows us to consolidate our completed sites into one facility with reduced debt servicing costs, scale to a level that can accommodate a significant number of additional rooms and maximize our return on capital.
Lisa Attenborough, Head of Debt Advisory at Knight Frank, said: “We are delighted to have advised our client Study Inn Group on the refinancing of its market-leading operating assets, located in Bristol, Loughborough, Nottingham and Exeter. The student accommodation sector remains attractive to a range of capital providers and this particular portfolio is a perfect demonstration of this which has maintained impressive occupancy levels throughout the pandemic.
Study Inn was advised by Knight Frank Capital Advisory, Gateley Legal, Cooper Parry, CBRE and Chatham Financial.