A new Dutch residential investment venture between Round Hill Capital and a Middle Eastern sovereign wealth fund has bought a portfolio of 14 assets.

Announcing the deal, Round Hill said the acquisition marks the first investment for the new strategy with the unnamed sovereign wealth fund.

According to people familiar with the matter, the venture already has €500m committed to invest in Dutch residential assets, with a pipeline of deals with 2,000 units and expects an increase in deal flow in the second half of 2020.

Round Hill said the acquired portfolio comprises 14 assets, 12 of which were recently redeveloped from vacant offices to 821 residential apartments. The apartments located across Amersfoort, Arnhem, Apeldoorn and Deventer.

The portfolio also consists of commercial units, parking spaces and storage units as well as two assets with development potential.

Michael Bickford, founder and CEO of Round Hill Capital, said: “Our acquisition of this portfolio through our newly launched Dutch residential investment strategy further enhances our wider accommodation platforms in the Netherlands, which remain a key focus of our business strategy and growth plans despite the ongoing global uncertainty as to the impact and duration of the COVID-19 pandemic.”

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