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

Jonathan Shapiro and Carrie LaFrenz

May 26, 2022 – 11.26am

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The proposed buyer of Dixon Advisory’s troubled US Masters Residential Property Fund’s $US507 million ($710 million) portfolio of New Jersey homes and apartments has walked away from the deal, marking another controversial chapter for the troubled fund.

A “perceived deterioration in market conditions” was cited as the reason that Brooksville, a US property fund, had terminated the agreement to buy the portfolio of assets from the fund, which trades under the URF ticker, one day after the 60-day examination period expired.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.