Unite (USAF) II plc (Tap-2): 02 October 2019

A second tap of the earlier transaction.

The issuer has previously issued Commercial Mortgaged Backed Notes on 18 June 2013, 19 November 2013 and May 2016. The Further First New Notes will form a single class with the Initial First New Notes and will rank pro rata and pari passu with all of the Existing Notes from the Further First New Closing Date.

UNITE UK Student Accommodation Fund (USAF) is an open-ended non-listed real estate fund that focuses on acquiring and operating high quality student accommodation in the UK. It was established in December 2006. USAF is the largest specialist student accommodation fund in the UK. As at the date of the Prospectus it holds a portfolio of 70 properties, valued at £2.4 billion, which are located in 21 towns and cities across the UK providing 24,759 bed spaces.

The Property Portfolio is comprised of 46 properties with a total value of approximately £1.633bln (as valued in the Property Portfolio Valuation Report carried out as at 31 August 2019). The Properties within the Property Portfolio as at the Further First New Closing Date will contain 17,490 beds and will be located in 19 different towns and cities across England and Scotland.