Unite Group has made a £723 million ($981 million) offer to acquire Empiric Student Property.
Shareholders were informed Aug. 13 that the boards of directors of Unite and Empiric reached an agreement on the terms of a recommended cash and share offer pursuant to which Unite will acquire the entire ordinary share capital of Empiric, according to media reports.
The transaction is expected to become effective by second quarter 2026.
As a result of the deal, Unite’s combined portfolio will expand to £10.5 billion ($14 billion), up from £7.4 billion ($10 billion), with approximately 75,000 beds on a combined basis.
“The Board of Empiric believes the firm and re
