Announced
Financials
Tags
Cross Border
Private
Pending
Majority
United Kingdom
student accommodation
Acquisition
Friendly
Real Estate
Single Bidder
Residential REITs
Disposal
Private Equity
Synopsis
Blackstone-backed Aventicum Real Estate, a global asset management firm, agreed to acquire a portfolio of eight properties from Unite Students, an owner, manager and developer of student accommodation, for $183m. "This disposal forms part of our target to dispose of £200-300m of assets in 2021. The sale is consistent with our strategy of increasing our exposure to high and mid-ranked Universities where demand is strongest, while delivering operational efficiencies that contribute towards our target for an improvement in our EBIT margin to 74% by the end of 2023," Richard Smith, Unite Students Chief Executive.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.