According to the Singapore Times Centurion Corp said on Monday 24th July it intends to enter the US Market. It plans to buy 1,936 Beds across five assets for circa $136M. Their aim is to own a 30% stake and the firm are opening up to other investors to join the deal.
"Centurion is looking at the properties in Auburn, Alabama; Tallahassee, Florida; Madison, Wisconsin, and College Station, Texas, which support US universities with good national rankings and sizeable student populations, the firm said." Extract from Singapore Times.
Centurion intend to complete the deal by September and to enter a joint-venture with a operating company to manage the assets under Centurions brand 'dwell'.
Chief executive Kong Chee Min said: "The US is one of the key and established educational hubs in the world... and the proposed acquisition will immediately expand our business geographically and increase the earnings contribution from this resilient sector.
"It will also open a new business opportunity for Centurion, as we extend into the investment management of investments from like-minded investors."