Funding mixed PBSA & Young Urbans accommodation
After successfully launching two vehicles in the UK, Curlew sought to expand its strategy across the continent and The Netherlands was outlined as its first target market.
As of 2018, Curlew Netherlands now has a mandate with a large Dutch Insurance Company to invest in high quality housing for students and young professionals across The Netherlands. The Insurance Company have committed €150m of equity into this niche sector.
The investment objective is to implement a core plus strategy across the 12 academic university cities as well as the cities with the 6 largest universities of applied sciences (so called “HBO”) in The Netherlands. The mandate includes a direct let strategy and all properties will be branded under one recognisable name. A seed portfolio is currently being formed and additional assets will be acquired during the investment period to create a portfolio of up to 6 buildings. The focus is to acquire new purpose built properties and conversions through forward funding or forward purchase.
Marjon Copier, Director Curlew Netherlands, “This mandate demonstrates the strong demand from institutional investors for investing in this ‘alternative’ investment sector. Using our specialist expertise, our strategy is to create and manage high quality living environments for young urbans. We are excited about the opportunity to partner with our client to acquire and manage the assets for them.”