Unite Group has completed the sale of its two student housing blocks with 1,358 beds in Wembley and Whitechapel to LSAV, a London student accommodation joint venture. LSAV is a JV of Unite Group and GIC sovereign wealth fund.

The transaction is valued at GBP342 million (US$472.35 million), LSAV will get GBP208 million (US$288.54 million) from Unite group and an 8-year loan for GBP140 million (US$194.2 million) by Barings. Operation and management of the properties will be handled by Unite Group, under its management agreement with LSAV.