Round Hill Capital JV Acquires Netherlands Portfolio

The properties are located in Arnhem, Apeldoom, Amersfoort and Deventer, totaling 821 units.

A joint venture combining global real estate investment, development and asset management firm Round Hill Capital and a Middle Eastern sovereign wealth fund has acquired 14 multifamily properties in the Netherlands. The assets, situated in Arnhem, Apeldoom, Amersfoort and Deventer, encompass a total of 821 apartments.

International law firm Greenberg Traurig LLP represented the joint venture in the acquisition. The acquisition was undertaken through Round Hill Capital’s newly launched Dutch residential investment strategy.

The apartment communities are all situated in city center locations with robust and growing demand for multifamily housing. A dozen of them are in redeveloped office buildings and are targeted to lower-income residents. All the properties enjoy low vacancy rates. Also included in the portfolio are commercial units, parking spaces and storage units. As well, two of the properties benefit from significant development potential. Opportunities exist to further improve the properties by means of renovations and operational enhancements.

Ongoing exploration

In 2014, Round Hill Capital established a residential investment and asset management platform in the Netherlands. Portfolio acquisitions followed by capital investment led to the portfolios’ underlying investments showing improved efficiency and performance for both residents and investors. In March 2019, Round Hill Capital sold a portfolio comprised of 9,544 units in the Netherlands to Heimstaden AB for 1.39 billion Euros.

In a statement, Round Hill Capital indicated it continues to seek real estate investment and management opportunities on multiple continents on behalf of a number of investors.

Among opportunities the company is exploring are development and purpose-built student housing, in the Netherlands and in select markets across Europe and the U.S. Round Hill Capital has indicated it intends to deploy substantial capital in markets featuring both long-term supply constraints and substantial renter demand for healthy, safe places to live.

Earlier this year, Hines purchased a mixed-use development in Amsterdam, on behalf of its Hines Pan-European Core Fund.