Aviva Investors has gone under offer to buy a 588-bed Glasgow student housing scheme from Gatehouse Bank.
Aviva is understood to have agreed to pay around £37m – a 5.75% yield – for the Collegelands scheme.
Shariah-compliant Gatehouse Bank bought the asset in 2011 from Watkin Jones for £30m.
JLL is advising Gatehouse; DTZ is acting for Aviva. All declined to comment on the deal.
joanna.bourke@estatesgazette.com
