Round Hill Capital’s European core/core-plus residential fund has received additional capital commitments.
The global real estate manager said its European Residential Income Fund II (ERIF II) fund, which was launched in 2020, has received a further €140m from new investors in Germany and Japan.
The new equity takes ERIF II’s size up to over €340m, the manager said. The fund had a €200m first close in September 2020.
Round Hill said it has already deployed €40m of the new equity to buy three new residential assets in Germany and the Netherlands. The latest transactions add 221 multi-family units to ERIF II’s portfolio of over 1,130 units.
Michael Bickford, founder and CEO of Round Hill Capital, said: “Today’s announcement shows that the investment community continues to look to residential real estate for the stable long term returns that our European Residential Income Fund II provides.
”Round Hill has a history of consistently outperforming return expectations by exploiting competitive advantages including our experienced local management teams and development of proprietary systems and technology. We strongly believe that well-managed residential and multi-family assets across Continental Europe will continue to provide a highly resilient investment well into 2022 and beyond.”
Raffi Killian, senior VP of Round Hill Capital, said: “We are delighted to add to our growing portfolio for ERIF II with three further acquisitions in Germany and the Netherlands. Greater Berlin and Harderwijk are in line with our targeted investment profile, focusing on cities with strong employment opportunities and economic growth.
”Our pipeline for ERIF II continues to grow at pace, thanks to our local market teams’ presence and skill. We are well-positioned to source further opportunities in Germany, The Netherlands and other key ERIF II markets to our investors.”
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