Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a759425

Embattled student property fund aborts £1bn IPO

by Dylan Lobo on Jun 30, 2014 at 13:29

Embattled student property fund aborts £1bn IPO

The Brandeaux Student Accommodation fund has backtracked on plans to float its portfolio.

The fund had said at the start of June that it would float its £1.1 billion portfolio in a bid to meet investors’ demand for redemptions.

It planned to float its portfolio of student accommodation by listing a subsidiary company Liberty Living, but last week announced that it would no longer press ahead with the initial public offering (IPO).

It told the market: ‘This decision has been reached due to adverse public market conditions and despite a positive response to the company and its underlying portfolio from prospective investors.’

'The outlook for Liberty Living's business remains very positive, with current reservation levels of 90% for the 2014/2015 academic year, and its operations remain unaffected by the decision not to proceed with an IPO.'

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet