DWPF acted as financial adviser to the University of Hertfordshire throughout the procurement process, culminating in a partnership with ULiving on a £190m off-balance sheet, single asset, demand risk transaction.

The project will deliver over 3,000 new bedrooms at the College Lane campus, associated social space and infrastructure works, and will achieve a ‘True’ Zero Carbon accreditation as well as meeting BREEAM outstanding requirements.

Senior funding was sourced from a £145m index-linked unwrapped bond via private placement, a first of its kind to be implemented in Europe.

ULiving is the consortium comprising Bouygyes Development and not-for-profit housing association Derwent Living.