Together supports multi-million-pound acquisition of 862-bed Preston PBSA portfolio.

Together has provided a multi-million-pound bridging loan to support MCR Property Group’s acquisition of an 862-bed purpose-built student accommodation (PBSA) portfolio in Preston.

The specialist lender structured two bridging facilities for the purchase of Foundry Court and Trinity Student Village, marking a significant expansion of MCR’s Flow Student platform. The deal adds 862 beds in a market with strong underlying demand, with the platform targeting a total of 10,000 beds by 2026.

Marc Goldberg, CEO of Group Sales & Distribution at Together, said:
“This was a strong opportunity to support an existing, experienced client delivering scale in a sector where we continue to see sustained demand. Our ability to structure multiple facilities and deliver at pace was key to helping the client secure the assets and continue growing their platform.

“We worked closely with MCR to provide a solution that offered both certainty of funding and the flexibility needed to execute their acquisition strategy.”

MCR Property Group is a well-established UK real estate investor and developer, with a growing presence in the student accommodation sector through its Flow Student platform, which continues to scale across key university cities.

The acquisition strengthens MCR’s footprint in Preston, an established university location with a large and resilient student population and aligns with the group’s strategy of acquiring well-located PBSA assets with potential for operational improvement and long-term value creation.

Nick Lake, Fund Director at MCR Property Group, said:
“This acquisition is further evidence that we are executing exactly the strategy we set out: acquire assets with strong fundamentals, deploy capital intelligently and use active management to improve performance.

“Scale matters, but only when it is matched by discipline. We are not growing for the sake of it. We are building a platform with operational depth, clear performance standards and a sharp focus on the student experience.”

Following the acquisition, both assets will be integrated into the Flow Student platform, with a focus on enhancing operational performance, improving resident experience and delivering targeted upgrades across the schemes.

The bridging loans provide MCR with flexibility to implement its business plan, including a programme of targeted improvements and asset management initiatives, ahead of a potential longer-term refinancing within the 12-month term.