UK-based property investor and manager Round Hill Capital has acquired a Dutch residential portfolio from CBRE Global Investors for around €180 mln in the biggest deal of its kind in the Netherlands since the financial crisis.
UK-based property investor and manager Round Hill Capital has acquired a Dutch residential portfolio from CBRE Global Investors for around €180 mln in the biggest deal of its kind in the Netherlands since the financial crisis.
The acquisition from funds managed by CBRE GI marks Round Hill Capital’s entry to the residential market in the Netherlands.
The portfolio comprises 1,534 units spanning around 140,000 m2, which are located across the Netherlands.
Commenting on the deal, Michael Bickford, founder and CEO of Round Hill Capital, said: ‘This acquisition is in line with our strategy to expand our residential platform across Europe. With over 10 years’ experience successfully investing in and managing residential property, we will use our existing capabilities and expertise, as well as our local knowledge and experience of the Netherland’s property market, to identify new opportunities for our investors.’
He added: ‘We believe the Dutch housing market, which benefits from positive macro-economic trends, together with the cash flow stability of the portfolio and our residential operating capabilities, provide a compelling investment opportunity.’
Robbert van Dijk, manager of CBRE’s Dutch Residential Fund, said the sale was in line with its strategy of disposing of properties that do not fit the fund’s investment criteria in the long term. ‘The rationale behind selling such a large portfolio as this, was that it optimises the fund’s opportunity to reach portfolio composition targets within a short time frame. The fund seized the opportunity of growing interest of international investors to enter the Dutch residential market.’
Van Dijk & Ten Cate closed the transaction for CBRE Global Investors and Capital Value was involved as adviser.
Founded in 2002, Round Hill Capital is a fully integrated real estate investor and asset manager with offices in the UK, Germany, Luxembourg, the US and the Netherlands. The firm has around €4.4 bn of European real estate assets under management.
