US$14 billion student housing giant created in new deal

British student accommodation developer Unite Group has agreed to acquire Empiric Student Property, creating a US$14 billion student housing giant as United Kingdom university enrolments rise, reports Reuters. The cash-and-stock deal, which values Empiric at £634 million (US$860 million), adds to a wave of transactions in the UK real estate investment trust sector, and comes amid a broader surge in takeover bids for British firms.

Unite Group mainly provides housing for first-year students at universities across Britain, while Empiric, which operates premium housing under the Hello Student brand, houses returning students. The deal would result in a combined portfolio worth £10.5 billion, with about 75,000 beds.

Demand for further education has rebounded in the past three years following a COVID-induced pause, while tightening student visa policies in key markets like the United States and Australia are redirecting student interest toward alternative destinations.
Full report on the Reuters site