The FINANCIAL — Barclays Real Estate has provided Moorfield Group (Moorfield), on behalf of the Moorfield Real Estate Fund (MREF), with a £15m three-year student accommodation investment facility.
"Barclays Real Estate has provided Moorfield Group (Moorfield), on behalf of the Moorfield Real Estate Fund (MREF), with a £15m three-year student accommodation investment facility.
The facility will be used to finance a student accommodation asset in Winchester which is leased to the University of Winchester," the company informed.
According to the company Moorfield is a UK-based real estate and real estate related investor, developer and private equity fund manager focusing on investment via direct asset / portfolio acquisitions or through corporate acquisitions of real estate related companies. Moorfield also has a substantial asset management arm which provides proactive asset and financial management to real estate schemes.
Moorfield manages two real estate private equity funds for third party investors; MREF and the Moorfield Real Estate Fund II (MREF II). The student accommodation asset in Winchester forms part of the MREF platform, which also includes 65 hotels and three shopping centres.
Commenting on the deal, Finance Director of Moorfield, Nick Edwards said; “We invest in the UK real estate market across a wide range of sub-sectors, and believe that at each stage of the economic and real estate cycle there is invariably the opportunity to make successful real estate investments for our investor base. Barclays Real Estate has provided the support needed to make our further investment into the student accommodation sector possible.”
Mark Quigley, Director, Barclays Real Estate commented; “Barclays Real Estate has continued to support the student accommodation sector throughout the past three years with well-structured finance packages for sector-leading sponsors. This has invariably led to our strong reputation and track record of successful delivery within the sector and we look forward to further supporting Moorfield Group with its finance needs.”
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