Greystar is expanding in the UK, with the support of LaSalle Investment Management.
IPE is reporting that LaSalle’s European debt division has provided the student housing developer with a fixed-rate £130m (€147m) green loan facility.
The funds will be used to help fund the development of a 770-bed student housing project in Wemblay Park, London.
According to Greystar, the project will be completed in the summer of 2025 and reach 20 storeys.
Greystar said the green loan facility provided by LaSalle will “help to develop a substantial, but most importantly sustainable student accommodation asset.”
Greystar’s UK project comes at a time of surging student demand in the post-COVID period.
LaSalle Investment Management said that the loan is structured as a ‘green loan,’ and compliant with the Loan Market Association’s green loan framework and Green Loan Principles.