May 20, 2019 / 6:19 AM / 7 months ago

BRIEF-Unite Group raises 250 mln stg from external investors

May 20 (Reuters) - Unite Group PLC:

* SAYS ANNOUNCES UNITE UK STUDENT ACCOMMODATION FUND (‘USAF’) HAS SUCCESSFULLY RAISED £250 MILLION OF NEW EQUITY FROM EXTERNAL INVESTORS

* SAYS PROCEEDS REPRESENT 17% OF USAF’S NAV AS OF MARCH 2019

* SAYS UNITE HAS AGREED TO SELL THREE ASSETS TO USAF FOR A TOTAL CONSIDERATION OF £111 MILLION (UNITE SHARE £83 MILLION), REPRESENTING A NET INITIAL YIELD OF 5.5% Source text for Eikon: Further company coverage: (Reporting By Simon Jessop)

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