Buchanan Bond acted on behalf of Unite Students Accommodation Fund (USAF) to acquire 123 Fountainbridge in Edinburgh for £24 million from Gatehouse Bank.
The site consists of 331 beds and is 100% let for this academic year.
The transaction represents an acquisition yield of 6% and the supports Unite’s strategy of aligning its property portfolio with high-ranking universities in the UK where student numbers are growing, and creating further earnings growth and visibility.
123 Fountainbridge becomes Unite’s fifth asset in the city and increases the total number of beds to 1,680.
Read the full press release here