Round Hill Capital Acquires a 976 Unit Residential Property Portfolio from Propertize B.V. for Approximately EUR 89 million

UK / Netherlands, 12 December 2014 – Round Hill Capital (“Round Hill”), the fully integrated global real estate investment and asset management firm, and Propertize B.V. (“Propertize”) are pleased to announce that they have signed an agreement for the acquisition by Round Hill of Woningportefeuille NL Divers B.V. (“WNL”), a Dutch residential property portfolio of 976 units with approximately 71,300 sq m for approximately EUR 89 million.

Round Hill Capital was the first international investor since the financial crisis to establish a significant Dutch residential property business through its acquisition in June 2014 of a residential portfolio of 1,534 units from funds managed by CBRE Global Investors for EUR 180 million. In November 2014, Round Hill also announced that it had executed an agreement to acquire a 3,786 unit residential property portfolio from Wooninvesteringsfonds for approximately EUR 365 million. In addition to its existing Dutch residential management business, Round Hill has an established track record of managing German residential property including social housing.

The transfer of title is expected to occur in January 2015. Capital Value advised Propertize on this transaction.

Commenting on the acquisition, Michael Bickford, Founder and CEO of Round Hill Capital, said:
“Based on our existing presence and operations in the Netherlands, we are continuing to build our Dutch residential portfolio with our third acquisition in the market. Round Hill has an eight year track record of successfully investing in and managing European residential property and through our experience, as well as our local Dutch knowledge and operations, we are ideally placed to manage and expand our growing residential property portfolio.”

Reinout van Riel, Chief Portfolio Officer of Propertize:
“This transaction is completely in line with Propertize’s strategy to wind down our real estate portfolio running up to 2023. This part of our portfolio has been brought to the market sooner than originally planned because of the high level of interest among investors for Dutch residential portfolios and the prices that are currently paid for this segment. After a comprehensive bidding process, we are pleased to have agreed to sell this property portfolio to Round Hill Capital, who are an established residential investor and manager and who we are confident will be a reliable landlord for the tenants.”

Chanine van Kleij, adviser Capital Value:
“Given the size and spread of this portfolio, both Dutch and international investors showed interest in the acquisition. This transaction once again shows that investors have a lot of confidence in Dutch residential property investments.”

15-Dec-2014