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TH Real Estate provides £47.8m 15-year student housing loan to TJAC Development

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TH Real Estate has arranged a £47.8m, 15-year loan facility for the US-based student housing specialist, TJAC Development. The 65% LTV facility, organized on behalf of a private client for its UK CRE debt mandate, was provided to refinance a portfolio of two student housing properties located in Cambridge and London (Bloomsbury).

Headquartered in Boston, Massachusetts, TJAC Development is a full-service real estate investment and development company with a comprehensive focus on the acquisition and development of student housing units and academic centers in the U.S. and abroad. 

The TJAC loan follows two others by TH Real Estate in recent weeks. It has also provided a £67.5m junior loan tranche as part of a £227.5m loan financing with LBBW to refinance Tribeca Holding’s 431-451 Oxford Street and a £124.6m senior loan in a £274.1m joint financing with MetLife for Gaw Capital’s acquisition of 123 and 151 Buckingham Palace Road in London’s Victoria submarket.

Shawn Kaufman, Direct of Debt Strategies at TH Real Estate said:

Student housing is an attractive sector with sound fundamental supply and demand factors underpinning the property performance.“

Zvi Schwarzman, Managing Director, TJAC Development added:

“TJAC Development is presently active in several international cities and is working to expand its presence throughout Europe. We have and will continue to strive to provide our clients with modern, first-class facilities in desired markets at affordable rates.”

Christian Janssen, Head of Debt, TH Real Estate said:

 "2015 is the first full year of operation for TH Real Estate’s debt platform and it has been a successful one. We look forward to 2016 as we intend to widen our scope of operation beyond the UK and make investments in select European jurisdictions.”

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services.

Kara Eigl

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