A fund managed by EQT Exeter is buying six student accommodation assets in two separate transactions from subsidiaries of Watkin Jones and Tide Construction.

The manager’s EQT Real Estate II fund is investing an undisclosed amount to buy five assets with a total of 2,063 beds in Bath, Nottingham, Swansea, Bristol and Glasgow from Watkin Jones and has agreed to buy 250 beds in an operating asset known as Great Court, located in South Bermondsey in London from Tide Construction.

The Watkin Jones transaction comprises 1,254 beds with a further 1,059 beds that will be developed by Watkin Jones and delivered in 2023 and 2024.

Russell Petrie, head of student housing in Europe at EQT Exeter, said these transactions mark a “significant milestone” for EQT Exeter’s expansion in the European student housing sector, bringing the total number of student beds in operation or in development to 5,222 and adding a new country to the firm’s European footprint.

“By selecting the best locations in undersupplied markets coupled with an unwavering focus on tenant experience, we expect these assets to be highly attractive to students by providing an environment where they can thrive both educationally and socially,” Petrie said.

Henrik Orrbeck, head of transactions in Europe at EQT Exeter, said: “We continue to investigate a number of exciting acquisition opportunities as we build upon this success and continue our European expansion efforts with a goal of being one of the leading European student housing investors.”

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