Project Finance Investments agrees to £13.5m loan to build student housing

Asset backed loans investor Project Finance Investments committed to a two-year loan to finance the construction of student accommodation in London.

A £13.5m loan was agreed to finance construction for private student residential accommodation for Queen May, University of London, which is expected be completed by the 2018/19 academic year.

The loan was secured by a subordinated charge against the property and was funded from the company's cash resources and from the net proceeds of its recent issue of C Shares, which over 50% has been invested so far.

Shares in Project Finance Investments rose 1.17% to 109.77p at close.