Pavilion Court receives £100m refinancing from LaSalle
Deal News | Jan 28, 2025 | LaSalle Investment Management
LaSalle Investment Management, a global real estate investment manager, has provided a £100 million loan facility through its LaSalle Real Estate Debt Strategies IV (LREDS IV) Fund. This facility is set to refinance Pavilion Court, a fully-leased, 699-bed Purpose-Built Student Accommodation (PBSA) asset in Wembley, London, owned by funds managed by Apollo Global Management. Pavilion Court, completed in 2021, is centrally situated within the Wembley Park Masterplan residential development and includes a wide array of student-focused amenities. The asset supports a thriving student accommodation hub, given its proximity to several academic institutions and local amenities. Holding a BREEAM Very Good certification, the facility aligns with real estate sustainability standards. According to David White, Head of LaSalle Real Estate Debt Strategies, this move underscores LaSalle's strong deployment capabilities and its role as a leading real estate debt provider across Europe. Apollo Partner Samuele Cappelletti expressed satisfaction in securing financing with LaSalle, citing value creation possibilities over the business plan's duration. LaSalle continues to be a key player in providing diversified real estate credit solutions in Europe and worldwide.
Sectors
- Real Estate Investment
- Financial Services
- Student Accommodation
Geography
- United Kingdom – Wembley, London, United Kingdom is the location of Pavilion Court, the asset being refinanced.
Industry
- Real Estate Investment – The article discusses the refinancing of a real estate asset, Pavilion Court, which falls under the real estate investment sector.
- Financial Services – LaSalle Investment Management, a firm in the financial services industry, is providing debt financing solutions.
- Student Accommodation – Pavilion Court is a Purpose-Built Student Accommodation (PBSA), and thus belongs to the student accommodation industry.
Financials
- £100 million – Loan facility provided by LaSalle Investment Management to refinance Pavilion Court.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| LaSalle Investment Management | PE Firm | Company | A global real estate investment manager providing the loan facility. |
| Apollo Global Management | Owner | Company | The funds managed by Apollo own Pavilion Court, the student accommodation asset. |
| David White | Head of LaSalle Real Estate Debt Strategies | Person | Provided statement on the refinancing and its impact on LaSalle's debt platform. |
| Samuele Cappelletti | Partner at Apollo | Person | Provided remarks on collaborating with LaSalle for refinancing. |