Captima structures £100M Preferred Equity
September 19, 2017
Captima were brought in by a specialist regeneration developer established by experienced property investors to provide a range of financing alternatives. Captima identified a range of debt, equity, joint venture and sale alternatives and, following a competitive process, worked closely with the development team to tailor an agreement with an Investment Fund for delivery of a new, high-quality 770-bed student accommodation scheme in Coventry city centre. The 24,500 sqm development has been pre-let to Coventry University as part of the University’s ambitious and long-term plans to expand its educational and campus facilities.
Coventry University Director of Estates, Rob Talliss commented:
“The scheme will provide the necessary bed spaces required for Coventry. Purpose-built accommodation will benefit the city, Coventry University and the local economy. We are delighted that the proposals have been supported throughout, by Coventry City Council and the local site ward councillors.”
The Cabinet Member for Education at Coventry City Council, Councillor David Kershaw CBE, demonstrated his support for the proposals: “The redevelopment of this site will continue the recent, upwards trajectory of the city. High-quality student accommodation is something that will benefit not just future students but the residents of Coventry.”
