Moves have been made by a property company to buy up the assets of wound up student accommodation fund firm Brandeaux and list on the stock exchange.
Liberty Living has announced this morning its intention to acquire the subsidiaries holding the entire property portfolio of Brandeaux Student Accommodation fund and its management company.
In January, Brandeaux announced it would wind up its range of student property investments which had at the time been suspended for more than six months.
The funds were suspended last summer due to liquidity concerns, which Brandeaux blamed on the Financial Services Authority’s move in 2011 to ban the sale of unregulated funds to retail investor
The managers of the Brandeaux Ground Rent, Brandeaux Student Accommodation and Brandeaux Dual Assets funds - which are all unregulated products - wrote to investors in December stating their intentions to sell all assets and wind up the funds.
Now Liberty Living has said it wants to acquire the £1.1bn of assets and list on the main market of the London Stock Exchange as a real estate investment trust, or Reit.
