Wee Hur Holdings has plans to divest a 9.9-percent stake in a student-accommodation fund, Wee Hur PBSA Master Trust (WHPMT), for A$112.7 million ($80.58 million), and other unitholders of WHPMT, which hold a 40 percent stake, also will divest their interest in the Australia-focused purpose-built student-accommodation (PBSA) fund, valuing the total deal at A$567.9 million ($406.03 million).
The deal will revalue the property trust at A$1.14 billion ($820 million).
WHPMT's portfolio currently comprises 5,662 beds across seven student-accommodation properties located in Sydney, Melbourne, Brisbane, Adelaide and Canberra.
“We are extremely pleased to have done a recapitalization of our first Australia focused PBSA fund, providing exit certainty for our investors within the fund term and providing a war chest for the group from the partial recycling of capital should further investment opportunities arise. We are also pleased to welcome our new partner and look for
