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Guernsey Firm Managing New Trust Investing In Student Accommodation

Guernsey's Legis Group will be administering a newly launched vehicle investing in student accommodation, a new alternative property class to watch.
Guernsey-headquartered financial solutions provider Legis Group will be
administering a newly launched vehicle investing in student
accommodation, a new alternative property class to watch.
The Curlew Student Trust was launched on 19 December by Curlew
Capital Limited and CBRE Global Multi Manager and will invest in
purpose-built student accommodation throughout the UK, focusing
on the top 50/Russell Group universities and where Curlew
identifies strong sustainable returns.
The vehicle was established as a result of investment by UK and
global clients and will target superior returns by
forward-funding new developments in high demand student
locations. So far, CBRE GMM has committed £40 million to the
venture.
Managing director at Legis, Patricia White, said that interest in
property investment funds had seen a significant increase in the
last year.
"This new vehicle is a response to demand from institutional
investors for more esoteric asset classes in the property
investment sector,” she said, adding that the choice to launch
the trust in Guernsey
is an example of the growing authority that the island is gaining
in the financial services sector.
“The decision to have the Curlew Student Trust administered in
Guernsey is a real endorsement for the island. It shows that
Guernsey remains a leading jurisdiction in this field,” explained
White.
The trust will be managed by Paul Oliver, former joint CEO of
Teesland, while operational and property management will be
provided by Fresh Student Living. Legis Fund Services will act as
administrator.