Curlew Student Trust (“CST”) invests in top university towns and cities located in England, Scotland and Northern Ireland.
CST was launched in 2013 as a seven year fund, with three seed assets, backed by clients of CBRE Global Investment Partners and managed by Curlew Alternative Asset Management (“Curlew”). The Fund’s strategy to acquire and forward fund high quality purpose built student accommodation has been successful with CST seeing significant growth, expanding to 20 assets (6,254 beds) with a further five assets (1,014 beds) due to be completed for the start of the 2018/19 academic year. Given the strong performance of the Fund and the fulfilment of its objectives to date, a decision to sell approximately 75% of the portfolio was taken.
The sale of the portfolio was completed on 1 February 2018.
CST is retaining approximately 25% of its total portfolio and this will continue to be managed by Curlew. Furthermore, following the success of CST, CBRE Global Investment Partners and Curlew have launched a second venture in the UK student accommodation sector, Curlew Student Trust 2 (“CST 2”). CST 2 will follow a similar strategy to its predecessor fund and already has two seed assets (917 beds) under offer for delivery in 2020. The follow on fund also has an active pipeline of opportunities.
Curlew draws on the experience of the investment and development executives from CAAM, 5 of whom have a total of 75 years specialist experience in the PBSA industry. Curlew has two offices in London and one in Amsterdam where our team are pursuing PBSA opportunities in the Netherlands.