Kinetic Capital, a specialist lender in the purpose-built student accommodation (PBSA) sector, has launched an investment program with StepStone Real Estate (SRE).
This investment program marks Kinetic’s first capital raise since launching its fund last year with a £100 million ($136.5 million) initial commitment. Under the agreement, SRE will provide capital to the new program, which is targeting at least £200 million ($273 million) of PBSA loans across the United Kingdom and Ireland.
According to Steve Grant, CEO of Kinetic Capital, the firm is now looking to expand its geographical focus, and hopes to close its first investments in mainland Europe over the coming months. All of Kinetic’s loans include unique ESG incentives, targeting initiatives to support the mental health and well-being of student residents.