Global real estate investment, development and asset management firm Round Hill Capital has inked a deal with the Dutch arm of China's Yisheng Development for a portfolio of student residences to be built at the Leiden Bio Science Park (LBSP) in the Netherlands.
Financial details were not disclosed.
The deal comprises 703 self-contained student residences across two buildings totalling 23,000 m2.
The European division of Yisheng Development, with offices in Amstelveen, will develop the apartments as part of the More plan, following a tender issued by Leiden University to develop the entrance area of the LBSP in the vicinity of the University Sports Centre.
The construction will be carried out by Heddes Bouw and will start in mid-2021. Delivery should take around two years, with occupancy planned for the academic year 2023-2024.
In addition to the student housing, the total plan includes rental housing, shops, catering and other shared facilities.
Student housing provider Student Experience will be responsible for the operation and management of the properties.
Yisheng was guided by Realnomics and CBRE in the sales process.
Law firm Dentons advised Round Hill.
