The funding will be used for the development of Scape Surrey 2 in Guildford, which will feature 403 purpose-built student accommodation (PBSA) beds and 113 co-living units.
Shane Ryan of Investec Structured Property Finance, said: “We are aware of the limited supply of Grade-A student accommodation in Guildford, particularly studios.
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“Increasingly we are seeing more innovative developers delivering a mix of tenure types within the same scheme, which reflects the blurred lines that now exist between the different use classes that encompass the private beds for rent sector.”
The scheme sits on the east border of the main University of Surrey campus and is scheduled to open for the 2020/21 academic year.
It is the second Scape Surrey development in Guildford, after the first achieved 100% occupancy across its 141 beds since opening in 2016/17.