Jensco Group secures £39 million loan for key student accommodation project
The Jensco Group has secured a £39 million loan from Kinetic Capital to fund the development of a 552 bed student accommodation facility in Nottingham, which is due to be completed by the beginning of the 2022/23 academic year.
A growing property development business, the Jensco Group has a successful track record bringing together both public and private sector partners, to deliver exciting new developments projects throughout the UK.
Jensco’s new loan facility has been agreed on a three year term and includes financial incentives to deliver on environmental, social, and governance (ESG) objectives, with a focus on initiatives promoting the positive mental health and wellbeing of student residents.
Cripps’ banking team, led by Victoria Symons, worked closely with the Jensco Group to negotiate the new £39m loan facility with Kinetic Capital, while simultaneously organising the release of Jensco’s existing finance and security documentation.
Commenting on the role that the Cripps team played director Nigel Bobroff said “The Cripps team worked extremely hard and with great expertise. It has been an absolute pleasure working with them and I have no doubt we will do so again very soon. The team helped a complicated transaction run very smoothly.”
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