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Funds and Joint Ventures
Kelvin Court, Glasgow
The UNITE UK Student Accommodation Fund (‘USAF’) is an open-ended non-listed real estate fund that focuses on acquiring and operating high quality student accommodation in the UK. Established in 2006, USAF is the largest specialist student accommodation fund. It currently holds a portfolio of 63 properties valued at over £1.2 billion which are located in 20 markets across the UK providing over 21,000 bed spaces. Read more here.
UNITE Capital Cities Joint Venture (‘UCC’) is a joint venture with GIC Real Estate, the real estate investment arm of the Government of Singapore Investment Corporation (GIC). Established in 2005 to develop new properties, UCC holds a portfolio of 15 properties located in London and Edinburgh valued at over £385 million. UCC has fully invested all of its equity and will continue to focus on the operation of its investment assets and any asset management opportunities within its estate. UNITE has a 30% holding in UCC, with GIC holding the remaining 70%.
London Student Accommodation Joint Venture ('LSAV') is a second joint venture with GIC Real Estate established in September 2012 and in which both partners have a 50% share. This new partnership will enable UNITE to undertake its next phase of London development activity.
Oasis Capital Bank Joint Venture (‘OCB’) was established in August 2009 as a five year joint venture to develop three student accommodation properties in London. These were successfully completed in Q4 2010 and are currently valued at circa £190 million. UNITE has a 25% stake in the vehicle with OCB holding the remaining 75%.