Curlew Capital Secures Operational Management of Six PBSA Schemes in Partnership with Aviva Investors

Aviva investors appoints Curlew to manage £150m purpose-built student accommodation (PBSA) acquisition.

Curlew Capital has strengthened its position in the student accommodation sector by securing the operational management of six purpose-built student accommodation (PBSA) schemes on behalf of Aviva Investors. The partnership represents a £150 million investment into the direct let PBSA sector, with Curlew Capital taking a leading role in managing and growing the portfolio.

The portfolio, which includes assets in Edinburgh, Liverpool, Exeter, and Falmouth, provides over 1,000 student beds, was purchased out of the Curlew Capital managed Curlew Student Trust vehicle launched in 2013.

Curlew Capital will oversee operational management of the portfolio, ensuring high-quality accommodation for students in key university cities.

James Stevens, Head of Real Estate Investment at Aviva Investors, said: "Complementing our build-to-rent platform of single-family homes, this significant transaction shows our ability to deploy capital at scale, alongside a proven operating partner, into a strategically important growth sector for our business. Student numbers are projected to continue growing in the coming years and, with a structural undersupply of purpose-built accommodation, we are pleased to be able to invest into the sector and support the provision of high-quality accommodation across the country."

Each scheme aligns with Curlew and Aviva's sustainability focus, with two of the developments already having on-site photovoltaic panels installed, and all assets achieving at minimum an EPC rating of "B".

The partnership aligns with Curlew Capital's strategic focus on expanding its robust PBSA portfolio partnerships, addressing the growing demand for student accommodation in the UK. The company intends to build on this partnership to explore further investment opportunities and expand its presence in the sector.

"We are excited to collaborate with Aviva Investors on these six schemes and to expand our role as a leading operational partner in the UK student accommodation market.

This partnership not only strengthens our operational footprint but also positions us to grow the portfolio further, meeting the increasing demand for high-quality, purpose-built student accommodation."Charlie Oliver, Managing Director at Curlew Capital