Brandeaux confirms £1bn student property IPO

The assets, valued at £1.1bn as of 30 April, are to be acquired by Liberty Living, a brand owned by Brandeaux, then floated on the London Stock Exchange. The flotation will allow the fund "to create liquidity for its shareholders who want to redeem their investment and provide a structure to facilitate future redemptions," the company said. The move follows Brandeaux's July 2013 suspension of its range of open-ended funds, following a period in which it had failed to meet redemption requests. The group will aim to be "a leading UK student accommodation income-oriented real estate i...