UPP Group, a U.K.-based student accommodations developer, said it listed on The International Stock Exchange in order to facilitate its conversion into a U.K. real estate investment trust, effective March 1.
The listing and conversion is part of UPP Group's long-term strategy, which includes a clear focus on its partnership model and the establishment of a £5 billion bond program on the Irish bourse. UPP added that a new five-year plan for the company will continue to target growth with new and existing university partners for on-campus accommodations.
UPP said that over the past 18 months, it dealt with £358 million worth of investments that increased its managed rooms by over 4,000 rooms, through partnerships with the University of London, the University of Hull and Swansea University. CEO Sean O'Shea added in a statement that the company's portfolio comprises upwards of 35,000 rooms with 16 partners.
