Curlew Netherlands has purchased 153 Young Urban loft apartments on behalf of a Dutch institutional investor for €20m. 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.
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 rooftop 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.
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 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."
