Bath-based Rengen secures £6.75M loan for student accommodation

Property finance company Atelier has reportedly provided a £6.75m loan to Rengen, the Bath-based specialist regeneration developer, for four new schemes which will in total enable it to deliver more than £30m of student accommodation.

According to reports, this is the fourth separate loan this year Atelier has provided Rengen, ranging from £2.7 million to £7.3 million, for a series of student accommodation regeneration schemes.

The latest loan is for Rengen's redevelopment of a student accommodation building in the University of Bristol’s East Residential Village.

Iestyn Lewis, CEO at Rengen, commented: “Working with Atelier gives me the agility and certainty I need to secure the best development opportunities."

Martin Gilsenan, COO at Atelier, added: “Iestyn and his team have been successfully delivering student accommodation schemes since 2010, and its reputation is now second to none.

“We’re delighted to have forged an enduring relationship with Rengen and to be helping it deliver comfortable, regenerated accommodation for the next generation of students.”