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Cornerstone agrees £80m Empiric student housing loan

Cornerstone Real Estate Advisors Europe has arranged an £80m new fixed rate term loan facility for Empiric Student against a portfolio of 20 operating assets, held as a lending group through a wholly owned subsidiary, Empiric Investments (Four) Limited.
CoStar News
April 4, 2016 | 2:53 P.M.

The Facility is available to draw down in full, subject to the fulfilment of certain conditions precedent, until 12 April 2016. It is repayable 12 years from the date of the initial draw down and has a fixed all in rate of 3.24%, interest only, throughout the term. This rate is fixed up to a loan to value ratio of 55%.

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