We are pleased to announce that MTN Funding plc, a specialist UK based issuer of structured products, for which Truva acts as trustee, is providing funding for a new €30 million student accommodation development in Porto, Portugal. The development is a partnership between BigCity and Reditum Capital.
BigCity is a development, investment and property management company specialising in student and co-living accommodation across Europe and Reditum Capital is a leading specialist global financier offering bespoke asset-backed financing solutions.
The two companies have agreed joint venture funding for the development of BigCity Asprela, a €30 million student accommodation facility in Porto’s main university district.
The joint venture funding marks the partners’ first entry into Portugal, a country characterised by a highly fragmented purpose-built student accommodation market with a significant supply-demand imbalance.
Alper Deniz, CEO Truva Trustee comments, “Truva’s relationship with Reditum Capital stretches back several years and we were very pleased to see MTN Funding plc, a specialist UK based issuer of structured products and for which Truva acts as trustee, provide funding for this very exciting new development in Porto.”
Visit the Reditum Capital website for full details of the Porto development partnership.