Unite Group extends JV and forms another

Unite Group, the UK's largest developer and manager of student accommodation, has announced an extension of its existing joint (JV) with GIC Real Estate, the real estate arm of the government of Singapore Investment Corp. as well as the creation of a new partnership through which Unite will undertake its next phase of London development activity.

Unite Group, the UK's largest developer and manager of student accommodation, has announced an extension of its existing joint (JV) with GIC Real Estate, the real estate arm of the government of Singapore Investment Corp. as well as the creation of a new partnership through which Unite will undertake its next phase of London development activity.

The life of the JV will be extended until September 2022 from its original maturity date of March 2013, and Unite will be able to increase its stake in the JV from 30% to 50% by the 2016 year-end.

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