Brookfield’s Student Roost has acquired two of Watkin Jones’ student accommodation projects for £48.8m.
The two developments located in York and Bristol comprise 659 beds and are due to complete in 2022.
Richard Simpson, chief executive of Watkin Jones, said the firm was seeing a growing recovery in the appetite of institutional investors to forward fund build-to-rent and student accommodation projects and was in talks to sell more of its pipeline.
He added that he did not expect any significant impact on the business from the second lockdown.
Watkin Jones also reported in an update that it was on track to post revenue of £350m and an operating profit between £48m and £50m for 2020 due to a strong second half.
This recovery in its performance will also see the firm pay back the £800,000 of financial help it had received from the government.
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