LONDON (dpa-AFX) - Unite Group PLC (UTG.L), a British provider of purpose-built student accommodation, said on Thursday that it has inked contracts to sell a portfolio of nine properties, comprising 3,656 beds for 212 million pounds to an affiliate of Lone Star Funds.
The disposal portfolio includes assets in Aberdeen, Leicester, Leeds, Nottingham, and Sheffield. The sale serves as part of the Group's strategy to increase alignment to high and mid-ranked universities and those properties with the strongest prospects for sustainable long-term rental growth.
The contracts have been exchanged with completion due in August. The proceeds from the transaction will be recycled into investment activity in the company's strongest markets, the Group said.
The disposal has been incorporated into the Group's full-year 2025 guidance for EPRA earnings per share of 47.5 pence to 48.25 pence, which remains unchanged.
Since 2022, the Group has now sold 12,000 beds, recycling over 700 million pounds into its strongest markets and new investment opportunities.
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