LaSalle provides a £100m loan for Apollo’s 699-bed PBSA asset, Pavilion Court, in Wembley

London (January 20, 2025) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, announces that it has provided a £100 million loan facility through its flagship LaSalle Real Estate Debt Strategies IV (LREDS IV) Fund to refinance the acquisition of Pavilion Court, a fully-leased 699-bed Purpose-Built Student Accommodation (PBSA) asset in Wembley, London, owned by Apollo-managed funds.

Located in the Wembley Park Masterplan residential development, Pavilion Court is a 10-minute walk from Wembley Park underground station with quick access into central London. Benefitting from one of Europe’s largest regeneration schemes, Wembley is home to the London Designer Outlet and the world-famous stadium. The area is an established residential neighbourhood which benefits from a wide range of food and beverage establishments. Its close proximity to several academic institutions such as the University of Westminster, UCL and Middlesex University, among others – positions the area favourably as a hub for student accommodation.

Completed in 2021, the 699-bed building sits across four blocks centred around a courtyard. It includes 89 studios and 610 en-suite rooms, alongside a gym, a games room, multiple study spaces, dining room and multimedia room, catering for both domestic and international students. Alongside this, Pavilion Court performs strongly against industry real estate sustainability standards and is accredited with a BREEAM ‘Very Good’ certification.

David White, Head of LaSalle Real Estate Debt Strategies, said: “This large-scale refinancing demonstrates the strength of our Debt Investments platform and maintains our strong pace of deployment, positioning our business as one of the most active real estate debt providers in Europe. We are delighted to be able to offer Apollo Global Management a bespoke and creative capital solution to support this acquisition. The building is in prime position to attract domestic and international students looking for high-quality, amenity-rich and centrally located accommodation that provide quick access to universities. We look forward to expanding our footprint in this segment of the market.”

Apollo Partner Samuele Cappelletti, added: “We are pleased to have worked with an institutional party like LaSalle in the financing of this landmark asset for which we continue to see multiple value creation levers to be implemented over the life of our business plan.”

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About LaSalle Investment Management | Investing Today. For Tomorrow.

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$88.2 billion of assets in private and public real estate equity and debt investments as of Q3 2024. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.

For more information, please visit www.lasalle.com, and LinkedIn.

About LaSalle Debt Investments

LaSalle Debt Investments is part of LaSalle’s growing US$10 billion Debt and Value-Add Strategies platform in Europe and invests in a diverse range of real estate credit solutions – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity – with significant experience across various sectors, geographies, deal sizes and capital structures. Since launching the business line in 2010, LaSalle has been one of Europe’s most active alternative real estate debt providers with a long track record of lending to best-in-class sponsors.