Round Hill Capital has acquired, via Round Hill Dutch Residential Investment SCS, a portfolio of Dutch residential units from funds managed by CBRE Global Investors for approximately EUR180 million.
The transaction represents the largest Dutch residential portfolio acquisition since the financial crisis.
The acquisition marks Round Hill Capital’s entry to the residential market in the Netherlands. The portfolio comprises 1,534 units spanning approximately 140,000 sqm, which are situated in attractive markets across the Netherlands.
Michael Bickford, founder and CEO of Round Hill Capital, says: “This acquisition is in line with our strategy to expand our residential platform across Europe. With over ten years’ experience successfully investing in and managing residential property, we will use our existing capabilities and expertise, as well as our local knowledge and experience of the Netherland’s property market, to identify new opportunities for our investors.
“We believe the Dutch housing market, which benefits from positive macro-economic trends, together with the cash flow stability of the portfolio and our residential operating capabilities, provide a compelling investment opportunity.”
Robbert van Dijk, fund manager, CBRE Dutch Residential Fund, says: “This is a significant disposal for the fund and is in line with our strategy to dispose of properties that do not fit the fund’s investment criteria in the long term. We continuously work towards optimising the portfolio with active asset management and this sale meets the strategic objectives, allocation targets and long term goals of the fund.
“The rationale behind selling such a large portfolio as this, was that it optimises the fund’s opportunity to reach portfolio composition targets within a short time frame. The fund seized the opportunity of growing interest of international investors to enter the Dutch Residential market.”