Maslow Capital, a leading pan-European provider of real estate finance, has finalised a £21 million developer exit facility to assist CKC Properties with their newly completed and fully operational Purpose-Built Student Accommodation (PBSA) project in Brighton.
The bridging facility will be used to refinance existing borrowings tied to the property, allowing CKC Properties to improve the operational performance of the asset during the prime student letting season. This strategic move aims to optimise rental income and bolster the asset’s overall valuation in preparation for a future divestment.
Ideally situated between the University of Sussex and the University of Brighton—two of the country’s most prominent higher education institutions—the property comprises three purpose-designed blocks rising three to four storeys. The scheme includes 134 contemporary ensuite studio apartments and features a wide range of shared amenities designed to meet the expectations of today’s student market.
Brighton remains a highly attractive student destination and is classified in Savills’ First Tier for PBSA investment. Maslow Capital’s decision to provide the bridging facility was based on the asset’s strong fundamentals – its prime location, quality, and income-generating potential – as well as CKC’s proven expertise and successful project execution track record.
The transaction was structured by Maslow Capital’s short-term finance division and introduced to Maslow by real estate debt advisor Beckford Advisory.
Adam Ware, Director of Structured Finance at Maslow Capital, commented:
“This £21m facility provides CKC Properties with the headroom to refinance the scheme, stabilise occupancy during the peak letting season and prepare the asset for its next phase. We are pleased to support the team at this pivotal stage in the project’s lifecycle. Although the facility sits at the higher end of the bridging spectrum, we remain committed to financing across the full ticket-size range – from granular loans of £300k upwards – backed by a specialist team with extensive experience in small and large deals.”
Geoff Thomas, CEO at CKC Properties, commented:
“Maslow’s flexibility and understanding of our objectives were instrumental in completing this transaction. Their approach aligned seamlessly with our business plan and provided the certainty we needed to move confidently into the next stage of the asset’s lifecycle. We value their partnership and look forward to future collaborations.”
John Kerrigan, Partner at Beckford Advisory commented:
“We are proud to have worked alongside CKC Properties and Maslow Capital on this deal. The transaction required a reliable lender with a clear understanding of the asset’s potential and the ability to act decisively, and Maslow delivered on all fronts. Their involvement will provide operational stability, enhance returns on investment and strengthen our clients’ position in an increasingly competitive market.”
