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Round Hill picks up Dutch resi portfolio for €110m

The London-based real estate investment management firm was an early investor in the Dutch market and has cemented its position as one of Europe’s largest private landlords.

Round Hill Capital has acquired a portfolio of residential properties in the Netherlands for around €110 million.

The portfolio consists of 980 residential units, totaling 979,000 square feet, which are spread across 25 Dutch cities. The assets were purchased from a number of private investors including Dutch real estate specialist Grouwels Vastgoed.

According to a Round Hill spokesman, the firm was the first foreign investor to tap into the Dutch residential real estate market in the wake of the global financial crisis. Since then it has positioned itself as one of the largest private landlords in the Netherlands.

The firm also has a strong presence in the Czech Republic and throughout Europe with a total residential portfolio of more than 100,000 units across the continent.

Michael Bickford, founder and chief executive officer of Round Hill, said: “We have established a proven track record of successfully managing residential properties across Europe. This acquisition underlines our commitment to the business in the Netherlands, and is in line with our European residential investment strategy.”

It is understood that the transaction was made on behalf of one of Round Hill’s existing Dutch residential funds.

Piet Bougie, director of real estate at Grouwels, said: “The acquired portfolio consists of residential units located in areas outside of Grouwels’ core investment areas. The business is currently actively negotiating the purchase of other complexes that have a better fit with its current portfolio.”

In April, Round Hill announced it was engaging with investors with a view to raising €500 million to export its student accommodation business, Nido, into Europe. It acquired the business alongside a portfolio of three London assets from New York private equity real estate giant The Blackstone Group in 2012, in a deal valued at £415 million ($591 million; €522 million). Last year, Round Hill sold the London assets to Charleston-based real estate firm Greystar Real Estate Partners for £600 million ($873 million; €779 million).

Round Hill was advised on the transaction by Loyens & Loeff, while Grouwels was instructed by Van Dijk en ten Cate Real Estate Agents.