Unite Students disposes of properties for £133million – 30 March 2021
29 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
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.