UNITE Student Accommodation Fund Raised GBP106 Million
UK manager and developer of student accommodation UNITE Group PLC said that the UNITE Student Accommodation Fund successfully raised GBP106 million of new equity last week, which it will use to reduce leverage and as well as potential future acquisitions.
USAF is an open-ended non-listed real estate fund that focuses on acquiring and operating student accommodation in the UK.
UNITE Group said that it invested GBP55 million, nearly all of which represented the planned deployment of proceeds from its own recent equity fundraising, with the remainder funded from existing cash resources …