Zenzic and Torsion refinance three UK student housing assets in £63m Cerberus deal

The refinancing converts three development loans (held individually against each asset) into a single five-year investment facility, marking the transition from development to operational stage for the JV's first three PBSA assets. The combined portfolio of 476 beds is 99% occupied and operated under the LUNA brand. The refinancing supports the JV's growth ambition to create a c.£500m GDV portfolio of over 2,000 beds. Zenzic Capital specialises in real estate credit and special situations. Torsion Group is a vertically integrated developer, contractor, and operator in UK residential markets. Cerberus Capital Management provided the £63m five-year investment facility through an affiliate. £63m five-year investment facility from an affiliate of Cerberus Capital Management. Replaces three separate development loans from Zorin Finance, Ingenious Group, and Atelier Finance.