Vita's Third PBSA in Newcastle Secured with £43M Loan
Deal News | Feb 06, 2025 | Puma Capital Group
Puma Property Finance has extended a £43 million loan to Vita Group for developing a new 260-bed purpose-built student accommodation (PBSA) in Newcastle. This development marks the third PBSA project in Newcastle by Vita, and the third collaboration with Puma. The Newcastle project, positioned city-central, is conveniently located near Newcastle University and Northumbria University. It will offer premium amenities such as a gym, private dining, and a landscaped courtyard. Scheduled for completion by the 2026 academic year, this development follows prior collaborations, which include an Edinburgh project in December 2024 and a Belfast project in 2022.
Sectors
- Real Estate Development
- Finance and Investment
- Education Facilities
Geography
- United Kingdom – The new development is in Newcastle, and earlier projects mentioned are in Edinburgh and Belfast, all within the UK.
Industry
- Real Estate Development – The article discusses the development of a student housing project, an activity within the real estate development sector.
- Finance and Investment – Puma Property Finance is providing a significant loan to fund the project, indicating activity in financial services.
- Education Facilities – The development of purpose-built student accommodations is directly tied to the education facilities sector.
Financials
- £43 million – The loan amount facilitated by Puma Property Finance to fund the Newcastle student accommodation development.
- £24 million – Previous loan amount facilitated by Puma Property Finance for Vita's Belfast PBSA development.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Puma Capital Group | Loan Facilitator | Company | Puma Capital Group, through its arm Puma Property Finance, is providing funding for Vita’s Newcastle student housing project. |
| Vita Group | Developer | Company | Vita Group is developing the new student accommodation in Newcastle. |
| Vita Student | Operator | Company | Vita Student is responsible for developing and operating the PBSA scheme. |