Round Hill Capital has raised an initial €200m for its latest core/core-plus European multifamily housing investment fund.
The manager said the closed-ended European Residential Income Fund II (ERIF II) fund received the capital commitments from new and existing Round Hill investors, including institutional investors from North America, Asia and Europe.
The fund will target assets in markets including Germany, the Netherlands, the Nordic markets as well as the wider Eurozone.
Michael Bickford, founder and CEO of Round Hill Capital, said: “This first €200m close is confirmation of the quality of our investment offering. European Residential Investment Fund II provides investors with the opportunity to invest with an experienced accommodation sector-focused manager with a deep understanding of European markets and exceptional operational expertise to drive returns.
“We anticipate that the COVID-19 crisis will see even greater demand for affordable and responsibly managed rental housing in key European markets.”
Bickford said Round Hill Capital is well positioned to “deliver and operate such opportunities to investors and we continue to see very strong appetite from European and International investors” for assets exhibiting stable, long-term rental income.
“Residential assets are already proving to be one of the most resilient and defensive real estate sectors and we expect to announce further new investors in the near future and the efficient deployment of this equity into our significant and growing investment pipeline.”
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