Taurus 2019-3 UK DAC: 20 October 2019

The second Taurus UK transaction within a month with, on this occasion, the Senior Loan being secured by, among other things, a portfolio of properties located throughout England, Scotland and Northern Ireland. The Issuer will make payments on the notes from payments of principal and interest received by the Issuer under loans advanced by the Senior Lenders to the Borrowers pursuant to the Senior Facility Agreement. On the Closing Date, the Issuer will acquire £244,445,594.28 in the Senior Loan.

The Property Portfolio comprises 21 purpose-built student accommodation properties totalling 8,053 beds located in 10 prime regional markets in the United Kingdom. The Properties consist of buildings and adjacent land which have been built or redeveloped for the purposes of providing accommodation to students. The Properties have all been built or refurbished since and including 2000. The Properties are operated by Student Roost, Brookfield's student housing platform operating under the "Student Roost" brand.

US and EU risk retention requirements: For the purposes of satisfying the requirements, Bank of America Merrill Lynch International (the Retaining Sponsor and the Issuer Lender) will advance a sterling loan to the Issuer on the Closing Date. As at the Closing Date, the principal amount of the Issuer Loan will be equal to £12,222,594, being equal to not less than 5% of the sum of (i) the aggregate principal amount outstanding of the Notes and (ii) the principal amount of the Issuer Loan on the Closing Date.

Compare/contrast: Taurus 2019-2 UK DAC, Uliving @ Essex2 Issuerco