Round Hill, Heitman acquire Dutch residential property portfolios

Round Hill Capital and Heitman have invested in the Dutch residential sector, teaming up with local asset managers.

Round Hill said it agreed a joint venture with Propertize to buy the Woningportefeuille company, a Dutch residential property portfolio, for €89m. The 976 units cover 71,300sqm. 

Heitman, meanwhile, has bought two residential portfolios in Amsterdam for around €76m.

The investment manager is acting on behalf of institutional investors and formed a joint venture with Orange Capital Partners to acquire the assets.

The portfolios include 400 rented residential units and 12 retail units across 24 buildings, with a total area of 28,400sqm.

Heitman said the assets are in supply-constrained sub-markets of the Dutch capital, in “vibrant, infill locations”.

Gordon Black, senior managing director and co-head of Europe at Heitman, said the investment capitalised on the “highly supply-constrained state” of the Amsterdam residential market.

“The market benefits from favourable macro-economic trends,” Black said.

For Round Hill, the deal is its third in the Dutch residential sector. 

Last month, the US manager agreed to pay €365m for a 3,786-unit residential property portfolio sold by Dutch housing association Wooninvesteringsfonds.

Michael Bickford, founder and chief executive, last month said the Dutch housing market represented an attractive investment opportunity, with a positive fundamental backdrop and stable cashflow.

In May, Dutch houses recorded their first increase in prices for five years.