Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Brandeaux confirms £1bn IPO of student property portfolio

1 Comment
Brandeaux confirms £1bn IPO of student property portfolio

The Brandeaux Student Accommodation fund has confirmed that it will seek to repay investors through a flotation of its portfolio.

The assets, valued at £1.1 billion on 30 April, will be acquired by Liberty Living upon its stock-market listing; Liberty Living is a brand of Brandeaux.

Brandeaux stated the initial public offering would ‘create liquidity for its shareholders who want to redeem their investment and provide a structure to facilitate future redemptions’.

The group suspended its entire range of open-ended funds in July 2013 as the illiquidity of the portfolios meant Brandeaux struggled to meet redemptions.

Liberty Living is targeting a yield of around 5%, noting that for the year ended 31 August 2013 Brandeaux generated £81.5 million of rental and other income. The portfolio had a net debt level of £274.9 million at 30 April 2014.

‘Liberty Living offers investors access to an established and proven income-oriented student accommodation business,’ commented Roger Boyland, executive chairman of Liberty Living.

‘It operates in a market which benefits from attractive fundamentals, including an ongoing supply and demand imbalance, and limited correlation with economic cycles.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Play Europe bulls, a retail boost and why a little inequality can be a good thing

Europe bulls, a retail boost and why a little inequality can be a good thing

This week’s Investment Pulse looks at whether investors should be bullish on Europe, the surprise rise in UK retail sales and if a little inequality is a good thing.

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter