Unite’s Student Accommodation Fund has increased in value by 2.1% to just over £2bn.
The student accommodation specialist’s London fund joint venture has also posted growth of 2.3% on a like-for-like basis and is now valued at £720m.
The increase in valuations was driven by 3.8% rental growth and eight basis points of yield compression in the quarter.
USAF is now valued at an average yield of 5.8%, while LSAV is valued at 5.1%.
Occupancy levels across the funds is at 99%.
Joe Lister, Unite Students chief financial officer, said: “The ongoing demand for high quality, well located student accommodation has supported rental growth of 3.8% across the portfolio.”
