Peabody Unite, which has been managed by Unite since its inception in 1998, had a planned life-span of five years. It enabled Unite--at the time a small unquoted company--to enter the London market at lower risk and develop its student and key worker accommodation product and services. Both parties will continue to work together on projects in London.
Peabody Unite's net asset value at 31 December 2001 was £26.6 million ($37.5 million).
Peabody Trust chief executive Richard McCarthy commented: 'This highly successful joint venture with a private sector company shows that we can also be innovative in generating financial returns to further Peabody's wider charitable objectives.'
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
