CBRE Global Investment Partners Ltd. and Curlew Alternative Asset Management have started on a second venture in the U.K. student accommodation sector.
Curlew Student Trust 2, which will follow a similar strategy to its predecessor Curlew Student Trust fund, has two seed assets totaling 917 beds under offer for delivery in 2020.
CBRE Global also addressed the completed sale of roughly 75% of the Curlew Student Trust portfolio, which consists of purpose-built student accommodation throughout the U.K. The sale, completed Feb. 1, comprises 15 assets totaling 5,407 beds in 12 university cities, including London, Birmingham, Bath, Durham and Sheffield. Also included in the sale is a land parcel in Swansea that is meant for the development of student accommodation.
The CBRE Group Inc. unit noted that Curlew Student Trust will retain roughly 25% of its total portfolio. It was earlier reported that Curlew sold the portfolio for £520 million.
