Student accommodation properties sold in deal worth £180m
Unite Students, the manager and developer of student accommodation, is to sell 14 properties, comprising 3,436 beds for £180.5m, of which Unite’s share is £84.7m.
The properties, which include Londonderry House in Birmingham., are being acquired by Singapore Press Holdings and completion is due later in September 2018.
The purchase price reflects a net initial yield of 6.3% and is marginally below book value.
The portfolio is made up of a combination of wholly owned, USAF and LSAV properties located in Plymouth, Birmingha... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
