Cain International
Loan Size
£53M ($73M)
Sponsor
Vita Group
Asset Class
Student Accommodation
Size
496 Beds
In June 2021, Cain International agreed a £53M loan with Vita Group to finance the development of a major student accommodation project in Coventry.
Expected to complete for the 2023-24 academic year, the 496-bed project will include a gym, cinema, study rooms, gaming stations and a large social hub for events. Studios will range in size between 172 sq. ft. and 344 sq. ft.
The development benefits from a prominent position in the city centre, is a 10-minute walk from Coventry University and a 20-minute bus journey from The University of Warwick.
At the time of transaction, the City of Coventry had a population of c. 52,000 full time students and was ranked 5th in the UK’s best student cities with its university being rated the 15th best university in the country by The Guardian. The University of Warwick, one of two universities in the city, was ranked within the top 10 universities in the U.K. and is a member of the prestigious Russell Group.
