This senior term facility has been secured against urbanest’s Battersea site which recently achieved practical completion ahead of the 2024/25 academic year.

The 853-bed asset is split over three blocks and includes on-site facilities such as a gym, bike storage units, shared social and study spaces, cinema room, cafe and enclosed roof terrace.

The building has been designed with sustainability in mind and has a BREEAM ‘Outstanding’ certification, as well as Passivhaus accreditation.

Overall, urbanest has a 4,645 bed student accommodation portfolio in zone one.

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“Despite only opening in September last year, urbanest Battersea’s occupancy level demonstrates the demand for high-quality, well-located student accommodation in Central London,” said Caroline Pellmann, senior director at Nuveen Real Estate.

“This facility provides an excellent opportunity to add further exposure to a much sought after asset class and we are proud to work alongside such a highly experienced sponsor specialising in the PSBA space.”

Vicky Skinner, CFO at urbanest, added: “We are delighted to partner with Nuveen Real Estate for the refinancing of our newest asset, urbanest Battersea.

“The business has pushed sustainability boundaries far beyond anything seen in the UK PBSA sector to date, and we are immensely proud to have created a world-class sustainable student community in London where our student residents, university partners and our team can thrive.”