Unite Disposes of Six Properties For £33 Million
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces the disposal of a portfolio of six properties in Aberdeen, comprising 1,050 beds for £33 million (Unite share: £20 million) to Clearbell Property Partners III LP, a fund managed by Clearbell Capital LP.
The disposal is priced in line with prevailing book value, which reflects a passing NOI yield of 6.0% for the 2022/23 academic year. This disposal sees the Group exit several smaller and less operationally efficient assets whilst retaining 911 beds across two properties in close proximity to each other in Aberdeen. The Group has now completed the sale of a total £339 million (Unite share: £256 million) of properties in 2022, completing the Group’s planned disposal activity for the year …