鈥檚 European real estate debt arm has provided with a 拢130m (鈧�147m) green loan facility to help fund the development of a UK student housing asset.
The fixed-rate loan, provided by LaSalle Debt Investments, will finance Greystar鈥檚 development of a 770-bed student housing asset in Wembley Park, London. The construction of the 20-storey asset is expected to complete in the summer of 2025.
Ben Mowbray, a senior director of investment at Greystar, said: 鈥淟aSalle鈥檚 green loan facility will help us deliver a substantial, but most importantly sustainable student accommodation asset in Wembley.
鈥淲e are committed to ensuring our assets provide a home away from home for students in a time of unprecedented demand without compromising the environment.鈥�
Robert Fay, director of debt investments at LaSalle, said: 鈥淲e look forward to helping Greystar deliver a best-in-class student product with strong sustainability credentials.鈥�
Fay said the latest loan represents LaSalle鈥檚 fourteenth loan facility secured against student accommodation, a 鈥渟ector we have strong conviction in across our wider European business鈥�.
Fiammetta Granchi, VP of debt investments at LaSalle, said: 鈥淭his facility with Greystar is fixed rate and does not require syndication, providing enhanced stability to the borrower.
鈥淭he loan was structured as a green loan, compliant with the Loan Market Association鈥檚 green loan framework and Green Loan Principles. As the drive towards superior environmental performance accelerates, we are committed to supporting our borrowers to deliver high-quality, sustainable accommodation.鈥�
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