Centurion to acquire US student housing

Five assets across four states will add 1,936 beds to its accommodation portfolio which includes Australia, UK

Published Mon, Jul 24, 2017 · 09:50 PM

Singapore

CENTURION Corporation Ltd announced on Monday its intention to enter the US market as its wholly-owned subsidiary, Centurion Overseas Investments (III) Pte Ltd, proposed an acquisition of a portfolio of five student accommodation assets across four US states.

In a Singapore Exchange (SGX) filing, Centurion said the portfolio comprised 1,936 beds across the five fully operational student accommodation assets, and has an aggregate purchase consideration of US$136 million.

The group said it intends to have an interest of up to 30 per cent of the portfolio, and is in discussions with various third party investors which will own the r…

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