Cash secured for student flats – Edinburgh
Ziggurat Student Living has won a £1.9 million equity placing to fund a 59-bedroom project in Cowgate.
The company, launched by Jim Pike and Matt McAdden, plans to develop 24 flats at Wellgate House with senior debt provided by Santander and a group of individuals contributing between £50,000 and £250,000.
Mr McAdden said: “This has been more complicated than securing equity from a single source but confirms the strength of private investor interest in the student sector and at the end of the day we were oversubscribed for this asset.” …