Vita Group: Secures £43M Loan for Newcastle Student Accommodation
Deal News | Feb 06, 2025 | Puma Investment Management Limited
Puma Property Finance, part of Puma Investment Management Limited, has facilitated a substantial £43 million loan to Vita Group. The loan is designated for the development of a 260-bed purpose-built student accommodation (PBSA) scheme, named Vita Student Leazes Park, in Newcastle. Strategically situated near major university campuses, this project exemplifies Vita's goal of enhancing the student living experience through top-tier amenities. This initiative continues the collaboration between Puma and Vita, marking their third joint venture following successful projects in Edinburgh and Belfast. Set for completion in time for the September 2026 academic year, the accommodation aims to attract students keen on an enriched university experience, offering amenities such as modern gyms and private study rooms.
Sectors
- Real Estate Development
- Financial Services
- Higher Education
Geography
- United Kingdom – The development project by Vita Group is based in Newcastle, UK, making the regional focus primarily on the United Kingdom.
Industry
- Real Estate Development – The article revolves around the development of purpose-built student accommodation by Vita Group, highlighting real estate development as a primary industry.
- Financial Services – Puma Property Finance's role as a financier demonstrates a critical component of financial services, specifically in providing significant loans for large-scale real estate projects.
- Higher Education – The focus on purpose-built student accommodation in proximity to university campuses links the project to the higher education sector.
Financials
- £43 million – The sum facilitated as a loan by Puma Property Finance to Vita Group for the development of the Newcastle student accommodation project.
- £24 million – A prior loan facilitated by Puma for Vita Group's Belfast PBSA development.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Puma Investment Management Limited | Financier | Company | Puma Investment Management Limited, through its arm Puma Property Finance, facilitates loans for real estate development projects. |
| Vita Group | Developer | Company | Vita Group is engaged in developing purpose-built student accommodations, exemplified by their new project in Newcastle. |