Round Hill Capital has agreed to pay €365m for a Dutch residential real estate portfolio.

The US investment manager will buy a 3,786-unit residential property portfolio from Dutch housing association Wooninvesteringsfonds.

Pending approval, the deal is expected to close in March next year.

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

WIF, founded in 2005, can sell the 326,000sqm portfolio following changes to Dutch legislation and regulation.

The deal is Round Hill’s second in the Dutch residential property market, having bought 1,534 units from funds managed by CBRE Global Investors for €180m in June.

Round Hill said the deal would be subject to regulatory approval by the Ministry of the Interior and Kingdom Relations, as well external regulators.