Redwood Consulting has supported Curlew Netherlands in making a pan-European announcement regarding its recent acquisition of 153 Young Urban loft apartments on behalf of a Dutch institutional investor for €20 million.

This forward funding investment is part of a separate account mandate into the young professional and purpose built student housing sector. The agreement to acquire this investment is with leading Dutch developer Borghese Real Estate, as part of its large-scale area transformation of the former ING Campus in Arnhem.

Arnhem is one of the targeted cities within the geographical scope of the mandate. It is the capital city of the Province of Gelderland and, combined with Nijmegen, forms the Metropolitan region of Arnhem-Nijmegen. Arnhem hosts a number of popular districts, including the fashionable area of Klarendal where the property is located. A significant component of the project will be leased within the regulated sector whereby VIVAT N.V. demonstrates its commitment towards providing affordable housing.

Marjon Copier, Director Curlew Netherlands said: “Despite the challenging times, we are very proud to have closed this transaction. Arnhem is an attractive market with good underlying fundamentals for young professionals. This purchase therefore supports our strategy of investing in affordable and sustainable housing for young urbans.” Paul Oliver, Director Curlew Capital further adds: “This latest investment demonstrates the continued demand from institutional investors in the affordable housing market across Europe. We are proud to further establish our presence across the continent.

The redevelopment is characterised by maintaining and reusing key elements of the former office building such as the building structure and the exterior design. This is combined with a new interior and installations including a sustainable climate system. This results in a characteristic and comfortable building, which meets modern standards.

The apartments have a high quality finishing, high ceilings, large window frames and a sustainable energy label. Common areas include a spacious lobby and a roof top terrace. The individual loft, industrial look, studios will be let at an affordable price range, targeting the “young urban” age group of 20-30 year olds.

The developer, Borghese, has a solid track record in delivering high quality conversions and developments of residential, hotel and office buildings.  Construction work has started and the project is expected to be completed in March 2021.

Curlew is a boutique investment manager specialising in managing assets in alternative niche markets, focused on student and young professional housing. Besides the recent growth across the European continent, Curlew’s AUM has grown to EUR 670 mln in the UK, where it is managing two investment vehicles.

This is the second Dutch project under construction for Curlew Netherlands on behalf of the investor, 159 affordable housing mid-segment rental homes for young professionals are under construction.

Redwood secured exclusive coverage on the deal with IP Real Assets as well as follow up coverage across UK and European media.