The Unite Group completed the acquisition of Liberty Living from CPPIB for $991m.

The Unite Group, a student accommodation owner, completed the acquisition of Liberty Living, a student accommodation owner, from Canada Pension Plan Investment Board for $991m. CPPIB will retain a 20% shareholding in the combined group. “Through this transaction, we are able to continue our investment in the student housing sector within the UK across a broader, more diverse and stable portfolio and with additional development exposure, which fits well within our global real estate strategy. We look forward to working with Unite Students in combining these two excellent businesses to continue to provide affordable, high-quality student accommodation across the UK, and maintain strategic relationships with educational institutions,” Thomas Jackson, CPPIB Managing Director.