News: Arc & Co. advise on £45 million blended debt facility to secure funding for EREC Estates Ltd 502-bed Purpose Built Student Accommodation development site in Coventry

  • Octopus Property’s largest ever development loan of £36 million 

  • Third Purpose Built Student Accommodation deal with developer EREC Estates Ltd

  • Both Coventry and Warwick universities facing a significant bed shortage

The Scheme

London, 7 February 2019 - Specialist property lender Octopus Property, part of the Octopus Group, has agreed to provide EREC Estates Ltd, an experienced UK developer of student accommodation, with a £36 million senior loan for the development of a major Purpose Built Student Accommodation (“PBSA”) scheme in Coventry. The scheme was brought to Octopus Property by John Kerrigan – Director at Arc & Co., who advised EREC Estates Ltd on the debt structure, which also included a £9.2m mezzanine loan.  This loan represents the largest ever development deal completed by the team within Octopus Property.

Arc & Co.’s John Kerrigan

Arc & Co.’s John Kerrigan

To read the full release, please click here


John Kerrigan, Director, Structured Finance - Arc & Co. T: +44 (0) 20 3205 2124 E:

In the Press:

Property Week:

In the Press:

Europe Real Estate: