Wee Hur (SGX:E3B) completed the disposal of seven purpose-built student accommodation assets to Australia's Greystar, according to a Tuesday filing with the Singapore Exchange.

The portfolio, which includes 5,500 beds across Australia, was sold for about AU$1.6 billion.

Following the sale, Wee Hur retained a 13% stake in the assets through its subsidiary, Wee Hur Australia, via its interest in the purchaser Greystar.

Shares of the company were down nearly 2% in recent trading.