Salford’s Riverside House Revitalized with £19.2m Student Housing Deal!
A Strategic Recapitalization
Salford is buzzing with excitement thanks to a substantial £19.2 million refinancing deal involving Riverside House, a notable student accommodation property. This significant financial maneuver led by Secure Trust Bank plays an essential role in the expansion of the UK student housing market, a sector that is rapidly growing and surging in popularity.
Orka Investments and BGO Join Forces
Orka Investments, in partnership with BGO Strategic Capital Partners, has taken a momentous step. The recapitalization of the 242-bed asset marks the beginning of a projected robust student housing platform in the UK, a high-growth area driven by increasing international demands.
According to Place North West, this transaction strengthens BGO’s foothold in the student accommodation sector, which the firm views as a high-potential investment fueled by persistent supply constraints.
Adding Value through Strategic Partnerships
Cherine Aboulzelof, managing director at BGO, enthused, “The UK student housing sector remains a compelling investment opportunity.” This collaborative initiative aligns well with BGO’s focus on pioneering quality student living environments, underpinning a broader strategy to construct a £100 million+ portfolio.
New Beginnings: Building on Success
Raoul Malhotra from Orka Investments highlighted the transformative potential of Riverside House and an accompanying development in Derby, accentuating the remarkable growth prospects of both ventures. Mike Feasey of Secure Trust Bank commended the partnership, emphasizing a tailored, relationship-oriented approach to their financial dealings.
Enhancing Student Living Standards
Riverside House is now equipped with exceptional facilities such as common areas, a cinema room, secure bike storage, and a gym, making it a top choice for students seeking comfortable accommodation.
This initiative reflects the broader ambitions of Orka and BGO to innovate and excel in the student housing market. The successful refinancing of Derby’s The Croft, facilitated by the Bank of London & the Middle East, further cements their competitive edge in the industry.
A New Era for Student Accommodation
With significant plans to upscale their portfolio, Orka and BGO are poised to make a lasting impact on the student housing landscape across the UK. Their partnership signifies a commitment to quality and strategic growth in urban redevelopment.
In an ever-changing real estate market, these engagements not only reflect a visionary approach but also a sustainable model for accommodating student communities that foster lifelong opportunities and learning environments.
