Investors build up Unite equity

Unite UK Student Accommodation Fund has accepted unconditional subscriptions for £306m of new equity ,from existing and new investors, after completion of a successful fundraising.

The company’s new units will be priced at the prevailing quarterly net asset value at the time when capital is drawn, plus a premium of approximately 1.5 per cent.

The capital will be used to fund property acquisitions and reduce leverage in the fund.