LONDON (9 September, 2026) – Precede Capital Partners (“Precede Capital”), the B Corp-certified real estate development lending platform, and Deva Capital (“Deva”), the real estate and corporate capital solutions investment arm of Santander Alternative Investments, have signed two major green development loans totalling close to £200 million, financing the delivery of two purpose-built student accommodation (“PBSA”) schemes in West London.
Together, the developments will deliver over 840 student beds, alongside almost 100 affordable homes and new commercial space, helping to address the continued shortage of purpose-built student accommodation and housing in London. Both facilities are structured as green loans, aligning with the LSTA’s Green Loan Principles. The projects are targeting strong environmental standards, including BREEAM “Excellent” certification and energy-efficient, gas-free or fully electric building systems.
The two loans mark a growing relationship between Precede Capital and Deva, combining experience in originating, arranging and structuring large-scale bespoke development financings. The firms share a focus on high-quality living projects with strong sustainability credentials and expect to explore further opportunities together in the UK.
Randeesh Sandhu, Chief Executive Officer at Precede Capital Partners, said: “These two deals demonstrate our continued ability to deploy green financing into the UK PBSA sector at scale, and we are delighted to be doing so alongside Deva Capital. We share a clear alignment on sustainability, asset quality and the importance of backing experienced delivery teams. London’s PBSA market remains underpinned by a fundamental imbalance between supply and demand, creating a compelling opportunity for lenders with the track record and flexibility to support complex development projects. We look forward to building on these transactions and pursuing further opportunities with Deva.”
Michael Zerda, CEO at Deva Capital, said: “The living sector, including PBSA, co-living and other amenitised residential formats, is a key area of focus for our platform. We are pleased to work with Randeesh and the Precede Capital team to support two high-quality, sustainability-led projects backed by experienced equity sponsors, and we look forward to exploring further opportunities together.”
