Braemar Group has written to shareholders requesting a further 12 months’ suspension of redemptions to its £14.3m Student Accommodation fund
Braemar Group has written to shareholders requesting a further 12 months’ suspension of redemptions to its £14.3m Student Accommodation fund. The asset manager – owned by Brooks Macdonald – has requested another year after securing debt facilities with Barclays.
Without the approval of investors, Barclays could force a sale of the student accomodations held by the fund.
The fund had previously written to investors stating that it had received advice from strategic advisers Knight Frank to offer all the assets for sale to determine the best price …