FINANCE: A £400m student accommodation fund looks set to be liquidated more than a year after redemptions were suspended.
Redemptions from the Mansion Student Accommodation Fund were suspended in October 2013 after it was unable to satisfy withdrawal requests.
Actions to restore liquidity and resume dealing have been undertaken over the past 12 months, including the refinancing of a number of properties, finalised last February; the sale of several buildings; and the instruction of Knight Frank to review options for the fund.
Results of the review, due imminently, include an option to sell its UK portfolio, which comprises more than 5,500 beds across 25 properties in 12 cities. A third of the portfolio by value is in London.
