Atelier has completed the funding cycle for a purpose-built student accommodation (PBSA) project, with the borrower refinancing the development after practical completion and stabilisation.
The project, a joint venture between Zenzic and Torsion, was constructed and developed by Torsion. The 196-studio building near the University of Warwick features a gym, private dining room, and rooftop terrace, and is managed by Torsion-backed LUNA. The scheme reached 100% occupancy shortly after opening.
Atelier provided a £26.2 million development loan, supporting the project through construction and completion. The lender worked closely with the borrower to meet a tight build programme ahead of scheduled occupation.
With operations now underway and refinancing secured, the scheme represents a smooth transition from development finance to long-term investment ownership. This outcome highlights the benefits of strong collaboration between funding and delivery teams.
Dan Spencer, founder & CEO of Torsion Developments, commented, “It’s been great delivering this scheme with Atelier, something that’s only possible with the right funding partner and a genuinely collaborative approach throughout the development journey.”
Chris Gardner, CEO of Atelier, added, “The repayment of a facility of this scale is an important milestone for both borrower and lender. It demonstrates how collaboration across the sector enables schemes to move successfully through the full cycle of development and investment.”
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