Wee Hur addresses speculation on Australian PBSA portfolio transaction

The company said that the transaction may or may not materialise.

Wee Hur Holdings responds to a report by an Australian news agency regarding transactions involving its purpose-built student accommodation (PBSA) business in Australia.

On 15 October, The Australian Financial Review reported that Greystar is acquiring GIC’s Australian purpose-built student accommodation (PBSA) portfolio and claimed that Wee Hur will retain a stake as GIC transfers ownership to Greystar, as it sold GIC a 49.9% stake in the project in April 2022.

The portfolio involves seven properties across Sydney, Melbourne, Brisbane, Adelaide, and Canberra valued at $1.4b (A$1.6b).

In a bourse filing, Wee Hur said it is currently engaged in early-stage confidential discussions with a third party which “may or may not lead to a transaction.”

The company also clarified that “there is no certainty that these discussions will result in any definitive agreement or transaction materialising”.

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