UNITE UK Student Accommodation Fund - November 2006

Ben Robins and Martin Eccles worked on the establishment of the UNITE UK Student Accommodation Fund, an open-ended property fund focused on owning and acquiring UK direct-let student accommodation properties. The transaction involved the contribution to the Fund of a seed portfolio of £515 million of properties, equity investments from leading institutional investors for £266 million as at 13 November 2006 (with 50% of this amount to be used for the acquisition of additional properties) and additional financing of £280 million being provided to the Fund by means of a securitisation of student rental payments.