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BOF and HOOPP financing 1,400 new student beds at Trent University
5 October 2026 | Development finance| Canada | 1,400 beds | Development
The Building Ontario Fund helped close a critical construction‑financing gap by committing C$100 million in mezzanine debt toward the total C$384 million package.
Key details
Asset type | Development |
Location | Peterborough, Canada |
Capacity | 1,400 beds |
Lender | Building Ontario Fund |
Investment partner | Healthcare of Ontario Pension Plan |
Developer | Knightstone Capital Management |
Value | C$384 million |
Source: Building Ontario Fund
Developed in partnership with Knightstone, Trent University’s new Otonabee and Gidigaa Migizi residences will incorporate approximately 134,000 sq ft of academic and student‑support space.
The project’s capital structure anchored by mezzanine financing from the Building Ontario Fund helped unlock further institutional investment alongside HOOPP.
With excavation scheduled for 2026, the development is targeted for completion in August 2029.
Strategic context
The transaction is BOF's second student‑housing investment and its first partnership with a Canadian pension fund. It combines public mezzanine capital with long‑term institutional investment to expand Trent's accommodation capacity and reduce pressure on Peterborough's rental market.
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