Nuveen Real Estate, one of the largest real estate investment managers in the world with $141 billion of assets under management, has provided a senior term facility of £151m to urbanest, the leading Central London student accommodation developer and provider.
The investment facility is secured against urbanest Battersea, a brand new operationally stabilised purpose-built student accommodation (‘PBSA’) asset close to the Battersea Power Station regeneration area in Central London and a stone’s throw from the new Northern Line extension serving it. It forms a part of urbanest’s wider 4,645 bed portfolio in London’s Zone 1.
Having achieved practical completion ahead of occupation for the new academic year in September 2024, urbanest Battersea is pioneering in terms of its sustainability credentials. It recently achieved Passivhaus accreditation which makes it the largest Passivhaus building in the UK and the eighth largest in the world1.
Rendering conventional heating systems unnecessary, the Passivhaus low-energy construction concept makes efficient use of the sun, internal energy sources and mechanical ventilation with heat recovery. This allows for space heating and cooling related energy savings of up to 90% compared with typical buildings and over 75% compared to average new builds. The building was also delivered to BREEAM Outstanding standard1.
The property’s location provides residents easy access to all the amenities of the Battersea Power Station development, and the nearby tube station connects them directly to the multitude of university campuses across London comfortably within 30 minutes’ travel time.
You can now read the full press release at the link below
