Unite Marks Down Fund Valuations as Student Bed Sales Slow

Unite Group Plc took small writedowns on its student accommodation funds as demand for UK dorms continued to show signs of cooling.

The landlord disclosed a 0.7% dip in the value of its USAF fund while its LSAV venture with Singapore’s GIC Pte was marked down 1.4% in the fourth quarter, according to a statement Friday. The writedowns come as the company reported it had sold 64% of beds for the next academic year, down from 67% a year earlier.