EQT Real Estate II buys six PBSA assets in U.K.
EQT Real Estate II Fund, a fund managed by EQT Exeter, has agreed to acquire six flagship student accommodation assets in two separate transactions from subsidiaries of Watkin Jones and Tide Construction. The transactions amount to 2,313 beds, 1,254 of which are currently operating with a further 1,059 beds that will be developed by Watkin Jones and delivered during 2023 and 2024.
From Watkin Jones, EQT Exeter has agreed to acquire five assets with a total of 2,063 beds in Bath, Nottingham, Swansea, Bristol and Glasgow, top-tier university cities with severe supply shortages of student accommodation. Watkin Jones is the United Kingdom’s leading developer of student housing, having delivered 123 developments with 46,000 beds since 1999. In line with EQT Exeter and Watkin Jones' high ESG standards, the three development assets are set to achieve BREEAM Excellent, with the operating assets having already achieved BREEAM Very Good. Upon completion, Watkin Jones' in-house operat