Addleshaw Goddard has advised key client UPP, on the c. £105m landmark transaction with the University of London, for a new central London student accommodation scheme in Stratford.
The 511-bed student accommodation development in Stratford, was funded by c. £87m of senior debt from Pension Insurance Corporation PLC, with a senior debt investment graded AA-rated wrap provided by Assured Guaranty, UPP and the University also invested a combined c. £18m of equity and subordinated debt.
The 33-storey tower, will be developed by the Watkin Jones Group as part of a larger mixed-use development which will also include residential and commercial spaces and will be completed in 2019.
Addleshaw Goddard has advised UPP on the deal with a team led by Real Estate partner Adrian Collins and Construction partner Andrew McVeigh (picture).
Law Firms: Addleshaw Goddard;
Clients: UPP Ltd.;