The loan was introduced by an intermediary partner and will refinance an existing debt facility on a of 100 plus unit student accommodation block and Grade II listed building in Newcastle City Centre.
The property, valued at £12.5m, generates an income of over £1m annually, said Catalyst.
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Chris Fairfax, CEO at Catalyst (pictured above), said: “We are delighted to have once again partnered with this broker and their developer client.
"Initially, the broker introduced the client to us for a short-term loan to purchase the property; after successful acquisition, they moved onto Catalyst refurbishment finance to develop the student accommodation.
“With the works completed, they have refinanced the project on our term loan to retain within their rental portfolio.”
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