Guernsey-headquartered Legis Group has been appointed administrator of
a newly launched vehicle for investing in student accommodation, a
thriving new alternative property class.
Curlew Student Trust (CST) 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 with other investment
opportunities where Curlew identifies strong sustainable
The vehicle was established as a result of investment by UK and
global clients of CBRE GMM alongside Curlew and key stakeholders
and will target superior returns by forward-funding new
developments in high demand student locations. CBRE GMM has
initially committed £40m to the venture.
CST will be managed by Curlew Capital, led by Paul Oliver,
former joint CEO of Teesland plc., while operational and property
management will be provided by Fresh Student Living. Legis Fund
Services will act as administrator.
Curlew Capital Director Brett Robinson said: "Having worked
with Legis previously I was confident that they would do a good
job. However, their performance in meeting an exceptionally tight
timetable for launch before Christmas was outstanding."
Legis Fund Services Managing Director 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.
"The teams at Curlew Capital and CBRE have an impeccable
track record in the investment and management of purpose-built
student accommodation assets and their 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."
Many people are baffled by trusts, the purpose of which they don't fully comprehend. Some even regard them with suspicion, as tools of of opaque tax evasion strategies of a type favoured by wealthy individuals.
We were recently instructed by a Bank in relation to a regulatory matter. The Bank had made a suspicious activity report to the Financial Investigation Unit ("FIU") due to their concerns about the potential source of funds in an account.
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