Netherlands: Curlew Capital has acquired a 153-unit co-living development on behalf of insurer Vivat.
Curlew Netherlands said it has purchased, by way of a forward funding deal, the House of Arnhem project from Borghese Real Estate for €20 million. Construction work has started and the project is expected to be completed in March 2021.
This is the second Dutch project under construction for Curlew Netherlands on behalf of Vivat. In Groningen, 159 affordable housing mid-segment rental homes for young professionals are under construction.
Marjon Copier, director of 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 of Curlew Capital, added: “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.”
Founded in 2011, Curlew is a UK-based real estate business focusing on the development and investment management of alternative real estate assets and funds. The company has raised and invested more than £1 billion through indirect funds and direct single accounts across the UK and Netherlands.
