Real estate investment manager Round Hill Capital has invested €183m in three accommodation deals in Spain.
Round Hill said it has acquired the 400-bedroom Hotel Florida Norte hotel being redeveloped in Madrid for €120m, forward funded a 180-student bed residence in Madrid worth €30m and has bought a 413-bed student residence in Seville for €33m.
Round Hill said acquired student accommodation will add an additional 593 student beds to Round Hill European Student Accommodation (RHESA), the European PBSA joint venture with CPP Investments.
Michael Bickford, founder and CEO of Round Hill Capital, said: “The latest announcements highlight our commitment to deliver high-quality accommodation in line with market demand, and firmly establishes Round Hill Capital as a leader in the European sector.
“Our 20 years of experience ensures we can deliver intelligent investments. With an integrated approach, our on-the-ground teams are able to invest in and produce high-quality accommodation that responds to the evolving needs of customers by creating smarter spaces through innovative technology.”
Oscar Bernaldo de Quiros, the head of Southern Europe investment at Round Hill Capital, said: “We are pleased to expand our portfolio with CPP Investments in Southern Europe with these three investments, adding over 1,228 high-quality beds to our existing portfolio in Iberia and reinforcing our offer across the continent.
“We are continuing to seek out new opportunities across other key cities in Spain, Italy and Portugal to strengthen our presence across the region and build on our success.”
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