Round Hill Capital has acquired a serviced apartment asset for €30m.

The global real estate investor said it has bought the apartment project in Valdebebas, Madrid. The development will deliver 230 units.

The project marks Round Hill Capital’s fourth acquisition of accommodation assets in Spain as the firm continues to build on its growing portfolio across Southern Europe.

Round Hill has acquired 950 serviced apartments to date within the region, with over 1,400 additional beds potentially in the pipeline.

Michael Bickford, founder and CEO of Round Hill Capital, said: “The potential of the serviced apartment market is exciting and reflects our ongoing commitment to attract investment to the Iberian accommodation market in response to the demand for high-quality housing alternatives in Madrid.”

Bickford said the transaction also marks the firm’s growing credentials in delivering serviced apartments across Iberia, with over 2,000 homes acquired to date, and more to come over the next few years.

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