Wee Hur Holdings has completed the disposal of its 37.1% indirect stake in seven of its purpose-built student accommodation (PBSA) assets to Greystar.
The sale of the PBSA segment to GS Australia Venture I Mid Trust was for a net consideration of A$355.4 million, or $319.8 million.
GS Australia Student Venture I Mid Trust is a unit trust wholly owned by the GS Head Trust, controlled by affiliates within the global real estate organisation Greystar Real Estate Partners (GREP).
The group first announced the sale in Dec 2024, and about 99.93% of its shareholders voted in favour of the sale at an EGM held in Feb.
Following the disposal of the asset, Wee Hur will have a 13% stake in the segment. Reco Weather, a company incorporated in Singapore and is under GIC Group, currently holds 49.9% of the sales units.
Shares in Wee Hur closed 0.5 cent lower or 0.962% down at 51.5 cents on Apr 1.
