Support
View guides

£33m Portfolio Disposed by Unite Students

Posted by Calum Martin in ,

Image courtesy of Flickr, Creative Commons

Owners, managers and developers of student accommodation, Unite Students, have announced the disposal of six purpose-built properties for £33m.

The portfolio, which comprises 1,050 beds in Aberdeen, has been sold to Clearbell Property Partners III LP, a fund managed by Clearbell Capital LP.

Unite Students share of the sale totalled £20m.

The group remain active in the Aberdeen PBSA market, retaining 911 beds across two properties. These assets benefit from being in close proximity to each other.

A total of £339m in student accommodation assets has been disposed of by the Unite Group in 2022 (Unite Share: £256m) and completes the planned sales for the year.

Group Property Director of Unite Students, Nick Hayes, stated: "This disposal of six small and less operationally efficient assets further enhances our alignment to the strongest markets where demand is highest. The proceeds will be used to help enhance our existing portfolio and to deliver on our record £1 billion secured development pipeline."