Summary:
- Mapletree Investments is liquidating its $1.3 billion Mapletree Global Student Accommodation Private Trust after the fund underperformed, delivering a 1.1% net internal rate of return versus a 12% target, impacted by rising interest rates and operational challenges in the US and UK student housing markets.
- The Singapore-based firm has begun selling assets from the fund, including two Scottish properties sold to Dutch manager CVC DIF, as part of a broader strategy to return capital to investors amid increased UK student housing investment activity and a more accommodative macroeconomic environment.
- Despite the fund’s difficulties, Mapletree remains active in the student housing sector, expanding into Australia with a purpose-built project in Perth, reflecting a targeted approach to markets with strong fundamentals.
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