Round Hill Capital buys Dutch resi assets for €100m

Round Hill Capital has acquired four residential portfolios in the Netherlands with a total value of €100 mln.

The 954 units with a total floor area of over 82,300 m2 were acquired from Amvest, MN Services and private real estate investors.

After the financial crisis, Round Hill was the first foreign investor to commence building a substantial portfolio of Dutch residential real estate assets. These new acquisitions bring Round Hill’s total portfolio in the Netherlands to over 8,000 units.

Round Hill’s legal advisor for the transaction was Loyens & Loeff and the portfolios are financed by ABN Amro.

Commenting on the acquisitions, Michael Bickford, founder and CEO of Round Hill Capital, said: 'We are pleased to expand our Dutch residential portfolio with these acquisitions and are committed to our investment approach in the Netherlands, where we expect to continue to acquire similar assets and to expand our residential platform across Europe. We continue to manage our residential portfolios in a responsible fashion and ensure that our tenants benefit from our focus on long term ownership and our professional residential property management approach.'

The British investor bought a portfolio of 184 units from Amvest Investment Management, advised by Capital Value and Brauw Blackstone Westbroek; 264 units from MN, also advised by Capital Value.

A third portfolio of around 400 residential units was bought from ABC Capital, acting on behalf of a number of private investors. The package, dubbed the Mixed Residential Portfolio Holland (MRPH), was acquired for €40 mln.

Besides the apartments, spread across the Netherlands, the portfolio also includes a number of commercial units.

'We selected a limited number of parties and invited them to take part in the disposal process. There was a lot of interest from international investors, confirming foreign players' interest in the Dutch residential market,' commented Jurgen J. de Zwart, director of ABC Capital.