The 海角视频’s biggest university accommodation provider has raised around £300m to expand its pipeline of projects after it saw profits plummet despite rising demand.
Unite Students, which is headquartered in Bristol but runs properties around the country, has completed a capital raise to finance two new developments and invest in its existing estate.
The money was accumulated by the FTSE100 firm through a combination of issuing new shares and an offer to retail investors.
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Bosses at the company said the money would increase its committed pipeline to more than £600m and help it provide student housing "where the need is greatest", as well as supporting the growth of its university partners.
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The raise comes after Unite reported a pre-tax profit of £116.9m for the first half of its financial year - down 65% from £334.1m recorded in the first six months of the previous year. This was despite earnings rising 15% to £110.2m, driven by a return to full occupancy of its flats.
Unite attributed the drop in profit to adjusted earnings and the impact of rising interest rates.
Chief executive Richard Smith said: "The need for new student homes is the greatest we have seen for several years. The private rental sector is in retreat and a supply crunch is building amid growing student numbers.
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"We are focused on delivering our substantial development and asset management pipeline across the 海角视频 as well as working with university partners to help unlock the potential of their campuses."
Mr Smith said that the firm had increased rent in response to a rise in its operating costs, adding "We expect market conditions and our alignment to the 海角视频's strongest universities to support a positive outlook for our business for a number of years.
"This creates a range of compelling investment opportunities which we will balance with ongoing capital discipline. We remain confident in our continued growth."
According to its website, Unite provides homes for 70,000 students, across more than 162 properties, in 23 university towns and cities .Unite said its property portfolio had been valued at £5.7bn as of the end of June.