BDO acted as reporting accountant on Empiric Student Property’s £75 million placing, U.S. private placement and offer for subscription. The issue was significantly oversubscribed.
Empiric Student Property invests in high quality, purpose-built student accommodation assets, comprising a mix of operating properties and properties under development across multiple locations in the UK. In little more than a year since its IPO in June 2014, the company has invested in 29 operating assets, 3 development projects and 9 forward funded or forward committed projects. The proceeds of the fundraising will be used to invest in further assets and projects in order to grow the company’s property portfolio.