Global real estate fund manager Round Hill Capital has acquired, in separate transactions, two multifamily properties in Greater Berlin for a combined total of around €100m.
The investments have been made on behalf of Round Hill Capital’s European Residential Income Fund II (ERIF II), which now owns over 3,000 units across Denmark, Germany, Ireland, Spain, the Netherlands and Finland.
Construction of both assets completed in 2024, and comprise predominantly one-bed apartments.
The first investment is a 208-home property in the well-connected north-Berlin submarket of Hohen Neuendorf, which was acquired from KW-Development, and is already 92% let.
The second investment is a 51-unit property, which is 98% occupied and located in the south Berlin submarket of Erkner.
Michael Bickford, founder and CEO of Round Hill Capital, said: “This was a rare opportunity to acquire two brand new, multifamily assets in Greater Berlin, at a significant discount to replacement cost, generating strong day one income and featuring the highest sustainability credentials. Market dislocation is presenting an attractive entry point for investors with capital and the conviction that values have stabilised, especially in the supply constrained residential-for-rent sector.
“We are well positioned to deploy the significant dry powder we have available on our balance sheet and on behalf of our funds, leveraging our experienced on-the-ground investment teams who continue to source compelling opportunities both on and off market.”
ERIF II is a core/core plus investment fund targeting housing assets in strong micro European locations that exhibit positive demographic and macroeconomic trends, persisting supply/demand imbalances and strong transport links.
To read the latest IPE Real Assets magazine click here.
