If the student accommodation provider and Liberty Living’s sole shareholder, the Canada Pension Plan Investment Board (CPPIB), complete the transaction, it will be priced on a NAV-for-NAV (net asset value) basis.
- DFT roundtable: Aggressive business plans, development delays and managing expectations
- Octopus Property provides £10m acquisition loan for retail-to-residential scheme
- IRES to acquire major property portfolio
The transaction consideration will be a combination of cash — which is expected to be partly funded via an equity placing — and shares such that CPPIB would become a significant shareholder upon completion.
The board of Unite Group believes the acquisition will leverage its operating platform (PRISM) to deliver significant synergies, sustain its medium-term rental growth outlook, deliver material earnings accretion and improve its earnings yield.
Leave a comment