Centurion Corporation, on April 22, announced the commencement of the sale process of its portfolio of assets in the US under its US student housing fund.
Centurion holds a 28.7% stake of the total number of units in issue in the US fund. The fund is managed by the company’s wholly-owned subsidiary, Centurion Student Investment Management Pte. Ltd. Another wholly-owned subsidiary, Centurion Student Accommodation Trustee Pte. Ltd., is the trustee of the fund.
The group had previously mentioned that it would be carrying out a strategic review of its specialised accommodation portfolio to explore opportunities for enhancing value for its shareholders on Feb 24, in relation to its FY2021 results ended Dec 31, 2021.
Centurion adds that it is continuing its strategic review of its specialised accommodation portfolio outside the US.
CBRE was appointed as real estate consultant, while Credit Suisse (Singapore) Limited was appointed as financial advisor.
Shares in Centurion closed 0.5 cent higher or 1.35% up at 37.5 cents on April 22.
