Round Hill Capital has acquired a portfolio of residential property assets in city-centre locations in the Netherlands through its new Dutch residential investment strategy. This deal marks the first investment in a new joint venture between Round Hill Capital and a sovereign wealth fund in the Middle East. Both parties are committed to investing in, developing and managing further residential property in the Netherlands in a responsible manner, and look forward to carefully building a substantial well-managed residential platform in the country.
The portfolio comprises 14 assets, 12 of which were recently redeveloped from vacant offices to 821 residential apartments that are focused on providing affordable homes for lower-income tenant groups. The assets in the portfolio benefit from low vacancy rates and are well-positioned in city centre areas with strong and increasing demand for housing, with the apartments located across Amersfoort, Arnhem, Apeldoorn and Deventer. The portfolio also consists of commercial units, parking spaces and storage units as well as two assets with development potential.
Commenting on the transaction, Michael Bickford, founder and CEO of Round Hill Capital, said: “Round Hill Capital has an 18-year track record of successfully investing, developing and responsibly managing real estate assets across Europe, with established expertise in residential housing. Our acquisition of this portfolio through our newly launched Dutch residential investment strategy further enhances our wider accommodation platforms in the Netherlands, which remain a key focus of our business strategy and growth plans despite the ongoing global uncertainty as to the impact and duration of the COVID-19 pandemic. Round Hill Capital established its residential investment and asset management platform in the Netherlands in 2014 and we have significant capital to deploy into our strong and growing pipeline of investment opportunites in select areas of the Netherlands, wider Europe and the U.S., which continue to see long term supply constraints coupled with deep and increasing tenant demand for healthy, safe and inspiring places in which to live and work.”