Empiric Student Property seeks joint venture partner to expand

Empiric Student Property is exploring bringing on board a joint venture partner to grow its portfolio of student accommodation.

The company, which reported strong half-year results yesterday, said in an analyst briefing that it had engaged PwC to look at options to expand its portfolio.

Chief executive Duncan Garrood said that traditional methods of growing the company were not available to it at the moment – with the company’s shares trading on a discount to NAV of around 30% excluding it from raising equity and debt currently very expensive …

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