8th Apr 2014 09:21
LONDON (Alliance News) - Student accommodation provider The Unite Group Tuesday said the value of its UNITE UK Student Accommodation Fund has increased to GBP853.6 million at the of March compared with GBP727.2 million in December.
The Unite UK Student Accommodation Fund is an open-ended non-listed real estate fund that focuses on acquiring and operating high-quality student accommodation in the UK.
Unite said the increase in value includes the impact of GBP106 million in new capital raised last month.
The Fund's property portfolio was valued broadly flat at GBP1.36 billion, with an average yield of 6.63% compared with 6.64% at the end of December.
The stock was trading at 422.80 pence Tuesday, down 1.7%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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