Unite plans to raise £100m through a share placing – mirroring the capital raising it completed last summer.
The student accommodation specialist, whose assets include the Moonraker Point scheme on the South Bank, SE1 (pictured), plans to use half of the proceeds to fund its regional development programme this year.
The balance will be used to increase the group’s stake in its student accommodation fund to 22%.
The proposed placing was announced as the group unveiled a 9.1% rise in net asset value to 382p a share in the year to 31 December.
The firm also almost doubled earnings per share to 18p, up from 9.9p in 2012.
