Investor-developer Round Hill Capital has completed the acquisition of a residential portfolio comprising 577 units located in Berlin.
The apartments are situated in the prime inner city neighbourhoods of Friedrichshain-Kreuzberg and Tempelhof-Schöneberg.
'This represents the next sizeable transaction in Berlin for Round Hill, following our acquisition in April 2017 of a 770-unit portfolio located in prime inner city neighbourhoods in Berlin,' commented Michael Bickford, founder and CEO of Round Hill Capital.
'We are accelerating the delivery of our German residential investment management strategy by continuing to acquire high quality, well located portfolios in key metropolitan areas, while growing our integrated residential management platform.'
The portfolio will be managed by RESIDEA Immobilien Management, an affiliate of Round Hill based in Berlin.
Round Hill and its affiliates currently manage over 4,000 residential units in Germany for several institutional and private clients. It total, it has 56,000 units currently under management across Europe.
The investors in the residential portfolio include Bluerock Group as junior partner and an international insurance group amongst others.
Advisors to the transaction were Simpson Thacher & Bartlett, Simmons & Simmons, PWC and Trinavis.
