Search
 

Unite Buys Out Peabody

CANNES-The UK's leading student accommodation provider has bought out its joint venture partner. The Unite Group acquired the 50% stake in Peabody UNITE from Peabody Trust

By Charlie Jacoby | Updated on March 14, 2002

CANNES-Specialist provider of student and NHS key worker accommodation Unite has paid £19.9 million ($28 milion) for the half of Peabody Unite that it didn’t own. It takes control of 1,553 secured student and key worker beds in London.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.