The refinancing brings BoI’s total funding in the student accommodation sector to more than €700m, which has supported the delivery of over 7,000 beds nationwide, it said,

The bank said its investment plays a role in expanding dedicated student housing, a component of Ireland’s social infrastructure, while also contributing to easing pressure on the wider residential market.

The transaction underlines the bank’s continued involvement in the sector, according to Brian Gaffney the head of residential and development finance at BoI.

“This latest transaction marks 10 years of partnership with GSA and reflects our continued commitment to the student accommodation sector,” he said.

“Purpose-built student housing plays a vital role in easing pressure on the wider residential market, while also supporting Ireland’s third-level education system, a key pillar of national competitiveness.”

GSA entered the Irish market in 2015, when BoI financed its first development, a 400-bed scheme at New Mill in Dublin 8.

The company now manages about 4,000 student beds across Dublin and Cork.

GSA operates internationally as an investor, developer, and asset manager of purpose-built student accommodation (PBSA) in 11 countries across Europe, North America, and the Asia-Pacific region, it said.

Bank of Ireland have been a great supporter of GSA since we entered the Irish market

The backing by the BoI is central to the company’s Irish operations over the last decade, according to John Jacobs, the global head of capital markets at GSA.

“Bank of Ireland have been a great supporter of GSA since we entered the Irish market a decade ago,” Mr Jacobs said.

“Their commitment and confidence in our vision have been instrumental in helping us establish ourselves as the largest owner of purpose-built student accommodation in Ireland.”

Kavanagh Court, with its offering of over 600 beds, is located in Dublin’s city centre and is a prime location for students, as it is walking distance from many of the major educational institutions in the city.

With the current partnership, GSA has been able to deliver high-quality student accommodation and plans to continue this with the bank’s support, Mr Jacobs added.

“Together, we’ve been able to deliver high-quality, much-needed housing for students in the country, and we look forward to continuing this successful relationship,” he said.

BoI said it remains committed to supporting further expansion in the student accommodation sector in partnership with operators such as GSA.