Unite Students disposes of properties for £133million – 30 March 2021
Unite Students disposes of eight properties for £133million
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces the disposal of a portfolio of eight properties, comprising 2,284 beds for £133million.
The disposal portfolio, which includes properties in Birmingham, Exeter, Manchester, Coventry and Wolverhampton, has been disposed of to a fund managed by Aventicum Real Estate.
The sales are part of Unite Students’ proactive portfolio management strategy and will see it exit a number of non-core markets to focus on high and mid-ranked universities.
Completion has now taken place for the disposal of seven of the eight properties in the portfolio for £120 million. The disposal of one remaining property in Manchester for £13million is expected to complete later this year.
Richard Smith, Chief Executive of Unite Students, said:
“This disposal forms part of our target to dispose of £200-300 million of assets in 2021. The sale is consistent with our strategy of recycling assets to core markets, while delivering operational efficiencies.”
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About Unite Students
Unite Students is the UK’s largest owner, manager and developer of purpose-built student accommodation (PBSA) serving the country’s world-leading higher education sector. We provide homes to 76,000 students across 180 properties in 27 leading university towns and cities. We currently partner with over 60 universities across the UK.
Our people are driven by a common purpose: to provide a ‘Home for Success’ for the students who live with us. Unite Students’ accommodation is safe and secure, high quality, and affordable. Students live predominantly in en-suite study bedrooms with rents covering all bills, insurance, 24-hour security and high-speed Wi-Fi. We also hold a five-star British Safety Council audit rating.
Founded in 1991 in Bristol, the Unite Group is an award-winning Real Estate Investment Trust (REIT), listed on the London Stock Exchange. For more information, visit Unite Group’s corporate website www.unitegroup.com or the Unite Students’ site www.unitestudents.com
About Aventicum Real Estate
Aventicum Real Estate is a real estate investment management platform, affiliated with Credit Suisse, that provides real estate investment solutions in Europe to high-net-worth individuals, family offices and institutional investors through co-mingled funds, separate-account, and co-investment opportunities. Aventicum Real Estate operates from offices in Zurich and London.