Global specialist real estate investor Round Hill Capital has acquired a new 506-bed asset in Maastricht, the Netherlands, as part of its strategy to invest in student accommodation across Europe.
Financial details were not disclosed.
The project will be developed by Urban Developers with Hurks as general contractor, and comprises 506 student beds, all of which will provide affordable housing options for students.
The transaction is one of the four seed asset acquisitions as part of Round Hill Capital's recently announced record €1 bn+ joint venture with Canada Pension Plan Investment Board (CPP Investments).
Brian Welsh, managing director/head of student at Round Hill Capital, said: 'This latest acquisition reinforces our position as one of the market leaders in the European student accommodation sector.
'We expect 2022 to see the sector return to pre-Covid delivery levels of student beds, and developments such as this will play a significant role in easing the pressure on housing stock across Europe’s major cities.
'This new development in Maastricht will help address the significant shortfall in student accommodation in the area, providing local and international students with high-quality facilities and services near one of the world’s top universities.'
The asset, located in the Randwyck area, will be operated by Nido Student and will be available for students before the start of the academic year 2023 / 2024. Construction works commenced in January 2022.
Round Hill Capital has completed more than €1.5 bn in PBSA transactions across Europe since 2002, including four in the Netherlands.
Loyens & Loeff, PWC and Sweco advised the purchaser on the deal. The seller was advised by BDO and Van Benthem & Keulen.
