Unite Group Seeks $247 Million to Expand Student Fund
Unite Group Plc, the U.K.’s largest student-housing landlord, plans to raise as much as 150 million pounds ($247 million) to expand its property fund.
The Unite U.K. Student Accommodation Fund has already agreed commitments for 133 million pounds of the target amount from investors, the Bristol-based company said in a statement today. The fund will use most of the new equity to buy properties valued at about 100 million pounds from Unite this month, according to the statement.
“Both Unite and USAF are now extremely well-placed to take advantage of opportunities to invest in the sector over the coming years,” Chief Executive Officer Mark Allan said in the statement …