Privately-owned Kexgill Group, providers of student accommodation in the UK under its trade name of University Quarter, has refinanced through Aldermore Bank.
The substantial transaction involved the refinancing of seven residential properties recently acquired by Kexgill as part of a strategic growth plan around the campus of the University of Hull.
Kexgill’s legal advice was provided by a multi-disciplinary legal team at Andrew Jackson Solicitors, led by partners Kirsty Barsby and Matthew Smith, who were supported by Nick Scott, Ailish Ward, and Benn Shiletto.
Hull-headquartered Kexgill is an award-winning student accommodation provider with a track record of successfully re-investing in its expanding portfolio. MD Richard Stott said: “This was a complex transaction involving redrafting existing covenants to accommodate further ownership surrounding the University campus. The purchase allows for development and branding of this unique area where more than 95% of properties are owned by us.
“Andrew Jackson Solicitors remains a trusted legal partner where the team’s expertise in complex matters helps us to realise our commercial objectives.”
Helen Mellors, partner at Andrew Jackson Solicitors, added: “Andrew Jackson has acted for Richard and his team for almost 10 years and assisted on the property purchases earlier this year, so we are particularly delighted to have advised on this latest transaction, as Kexgill underlines its commitment to the affordable student accommodation sector.”
