BDO acted as reporting accountant on Empiric Student Property’s £86.4 million placing and offer for subscription, which completed on 27 October 2015. This represented the final issue of shares under a one year share issuance programme, which has raised gross proceeds totalling £312 million.
Empiric Student Property invests in high quality, purpose-built student accommodation assets. Having started out with 4 operating assets at the time of IPO in June 2014, the company has now grown to 36 operating assets, 9 forward funded projects, 3 development projects and 3 forward commitments. The proceeds of the fundraising will be used to invest in further assets and projects in order to grow and diversify the company’s property portfolio.