Equitix has reached financial close on a new student accommodation development for the University of York at its Heslington East campus. Operis was pleased to act as financial advisor to Equitix and to help extend its run of success in the student housing market.
Graham Construction will act as building contractor to construct 1,480 new student beds with Derwent FM providing facilities management services to the project once complete under a 50-year contract.
The project is financed with a £160 million 45-year senior index-linked loan from PIC, which benefits from a guarantee of scheduled principal and interest payments provided by Assured Guaranty. Equitix will be providing equity to the project.
The project went through a competitive tender process with final bids submitted in 2018, following which Equitix was selected as preferred bidder.
