Round Hill Capital has bought a new 506-bed asset in Maastricht, the Netherlands on behalf of its newly created partnership with the Canada Pension Plan Investment Board (CPP Investments).
The global real estate investor has invested an undisclosed sum to acquire the student housing project being developed by Urban Developers.
The asset, located in the Randwyck area, will be operated by Nido Student and will be available for students before the start of the academic year 2023/2024.
The deal is one of the four seed asset acquisitions as part of Round Hill Capital’s newly created €1bn European student accommodation investment partnership with CPP Investments.
Brian Welsh, managing director/head of student at Round Hill Capital, said: “We expect 2022 to see the sector return to pre-Covid delivery levels of student beds, and developments such as this will play a significant role in easing the pressure on housing stock across Europe’s major cities.
“This new development in Maastricht will help address the significant shortfall in student accommodation in the area, providing local and international students with high-quality facilities and services near one of the world’s top universities.
”We are confident that this new asset will make a valuable addition to our growing portfolio with CPP Investments, helping us to unlock further value with additional acquisitions in the years ahead.”
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