BaseCamp has entered into a financing agreement with the Swedish lender, SBAB, to facilitate the development of approximately 20,000 sqm of student accommodation in the Masthusen area of Malmö, Sweden. The location is ideal as it is close to the Malmö University’s main campus as well as the World Maritime University. When completed during 2023, the project will comprise 585 units of student accommodation which will help reducing the high unmet demand in Malmö for student accommodation.
The financing agreement entails a total credit facility of approximately SEK 650m. The financing agreement ensures the construction of the property development project in full. Further the parties has agreed an extension of the financing agreement to also cover the operational phase.
About BaseCamp
BaseCamp is a fund-backed pan-European property developer, operator and investment manager specialized in developing student housing properties. The Company primarily develops properties with the intention to own and operate the property. BaseCamp currently has properties in Germany, Poland and the Nordics, and a pipeline that includes further projects in the three regions.