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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter