The funding is for Bricks Capital.
Octopus Real Estate will provide a £21m development finance facility to deliver a 315-bed purpose-built student accommodation (PBSA), in Glasgow city centre.
The funding is for Bricks Capital which has previously completed several PBSA developments in Glasgow, Edinburgh and Aberdeen.
This accommodation block is due for completion, and will welcome its first students for the start of the 2020 academic year.
Gavin Eustace, head of development at Octopus Real Estate, said: “The PBSA sector is growing and offers a huge opportunity for developers who are willing to listen to and respond to students’ needs and demands.
“Bricks’ scheme in Glasgow is a prime example of a quality PBSA development that will create environments that will support students in their academic performance as well as enhance their university experience.
“Octopus Real Estate champions growth of the PBSA sector.
“We make some of our biggest development loans in this sector, which has grown into the mainstream over the past decade and is no longer deemed ‘alternative’.”
Peter Prickett, chief executive at Bricks Capital, added: “Glasgow is an obvious choice for a high-quality student accommodation scheme.
“With several key institutions nearby, and brilliant transport links, New City Road is the ideal location for the development.
“We see the opportunity and growth within the PBSA market and are pleased to have worked alongside Octopus Real Estate who share our vision and values.”
