Dixon’s troubled US portfolio sale falls over as US buyer walks away

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A contentious $US507 million property portfolio sale will not go ahead after US private equity buyers cited poor market conditions for walking away.

The proposed buyer of Dixon Advisory’s troubled US Masters Residential Property Fund’s $US507 million portfolio of New Jersey homes and apartments has walked away from the deal, marking another controversial chapter for the troubled fund.

that did not intend to support it, the reason cited for the collapse of the deal after a period of due-diligence adds further intrigue. “The fund has been advised that this termination was due to a perceived deterioration in market conditions by the buyer, notably a markedly increased interest rate environment and broader economic uncertainty, and the buyer was unwilling to proceed on the agreed terms,” a statement to the exchange said.

 

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