Round Hill Capital and Boelens de Gruyter have strengthened their relationship with the acquisition of two Dutch assets for potential residential development.
The real estate firms have bought two office and industrial assets with a total floor area of 8,000sqm near the A10 ring-road at de Overschiestraat 182 and 188 in Amsterdam. Financial details were undisclosed.
Michael Bickford, founder and CEO of Round Hill Capital, said: “Our acquisition of these two assets further enhances our housing platforms in the Netherlands, which remains a key focus of our strategy.”
Bickford said the assets and site have significant opportunities for asset management and potential residential redevelopment, and the company believes that the site provides an exceptional opportunity to provide much needed additional housing which is required to support the continued population growth in Amsterdam.
“Round Hill remains committed to making further investments in residential and student housing assets and developments in the Netherlands and across Europe in line with our existing strategies.”
Maarten de Gruyter, director of Boelens de Gruyter, said: “This acquisition will help satisfy pent-up housing demand. The Municipality is well aware that the continuing growth and increasing popularity of Amsterdam are the driving force behind the demand for more residential space.
“Redevelopment in this area can help satisfy this demand. In addition, the location is quite unique, close to the A10 ring road and very accessible.”
In February last year, Round Hill, Boelens de Gruyter and G&S Vastgoed bought around 43,000sqm in Merwede Canal Zone in Utrecht to develop into a new urban neighbourhood.
In June the same year, Round Hill and Boelens de Gruyter bought an existing office asset for potential residential redevelopment on an 11,804sqm site near the A10 ring road in central Amsterdam.