Mishcon de Reya has advised developer Fusion Group on a £235 million purpose-built student accommodation forward funding deal with US investor Cain International in joint venture with Israeli insurance firm Menora Mivtachim Group.
This will support the delivery of 1,481 student beds across major student cities in Liverpool, Nottingham and Manchester. From beautifully designed living spaces to unrivalled facilities and focus on wellbeing and sustainability, the three schemes provide high quality living spaces for students.
Ed Hughes-Power commented: "This deal is indicative of the PBSA sector's further potential for growth and underlines the continued attractiveness of PBSA to investors. Mishcon de Reya has developed an exciting and growing practice in the alternative residential market and we are now regarded as one of the leading law firms for the build to rent (BTR), student accommodation and senior living sectors. We are delighted to continue our relationship with Fusion and to have advised on such a milestone deal."
Adam Cohen, Group Managing Director, added: "We want to extend our gratitude to Mishcon de Reya for their invaluable support throughout this transaction. As developers, we are incredibly excited about what this deal will enable us to contribute to the future of student accommodation. Fusion Group is dedicated to bringing a positive living ethos to students, and with these developments in Liverpool, Nottingham, and Manchester, we aim to provide high-quality, well-designed living spaces that prioritise their wellbeing and experience."
The Mishcon de Reya team was led by Ed Hughes-Power (Partner, Real Estate) and Dean Poster (Partner, Corporate), with assistance from Chhavie Kapoor (Rights to Light), Oliver Neasham (Real Estate), Adam Goldthorp (Real Estate), Isabella Adams (Real Estate Tax), Martyn Hanmore (Planning), Thomas Ren (Planning), Amy Davidson (Corporate) and Declan Toolan (Corporate).
The Business Desk