Centurion acquiring 5 US varsity dorms for $187 mil; to take up to 30% stake in portfolio

SINGAPORE (July 24): Centurion Corporation is planning to acquire a portfolio of 1,936 beds in five student accommodation assets in US for a consideration of US$136 million ($187 million).

Centurion is expected to hold up to 30% interest in the proposed acquisition and will partner potential investors to take up the balance.

The portfolio assets, which are located in four U.S. states, including Auburn, Alabama; Tallahassee, Florida; Madison, Wisconsin and College Station, Texas are quality student accommodation assets, supporting US universities with good national rankings and sizeable student populations.

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