Round Hill Capital and Boelens de Gruyter Acquire Two Amsterdam Assets Targeted for Residential Development

Round Hill Capital (“Round Hill”), a leading real estate investment, development and asset management firm, in conjunction with real estate developer Boelens de Gruyter, have acquired two office and industrial assets for potential redevelopment and expansion, presenting an opportunity to develop significant residential volume in the city of Amsterdam.

The two assets have a total floor area of approximately 8,000 m² in a prime position near the A10 ring-road at de Overschiestraat 182 and 188 in Amsterdam, the Netherlands. The site is located in a “residential acceleration area” designated by the Municipality for potential residential (re)zoning in order to meet the strong and increasing demand for housing in Amsterdam. The entire site comprises an area of approximately 9,000 m² and offers ample space for a higher residential/work density at this location, which is in the Schinkel neighbourhood, which is already being redeveloped into a mixed residential-commercial area.

This transaction reflects the continuing expansion of Round Hill’s urban regeneration and development strategy in the Netherlands. In June 2018, Round Hill acquired, with Boelens de Gruyter, an existing office asset “Ring Park” for potential residential redevelopment on an 11,804 m² site near the A10 ring road in Central Amsterdam, and in February 2018, Round Hill acquired, with Boelens de Gruyter and G&S Vastgoed, approximately 43,000 m² in Merwede Canal Zone in Utrecht to develop into a new urban neighbourhood.

Over the past five years, Round Hill has successfully established its residential investment and asset management platform in the Netherlands and has acquired more than 10,000 Dutch residential units throughout this period. Across Europe, Round Hill has acquired and managed more than 110,000 residential units and student housing beds and has a significant and growing European residential and commercial development business with 10 projects on site and a total investment value committed in excess of €1.2 billion.

Round Hill Capital and Boelens de Gruyter were advised by Van Dijk en Ten Cate and HMK Notarissen (Notaries) and the vendor was advised by Cushman & Wakefield.

Commenting on the acquisition, Michael Bickford, founder and CEO of Round Hill Capital, said:

“Round Hill has a successful 17-year track record of investment, development and operational management of real estate assets across Europe, with established expertise in residential housing. Our acquisition of these two assets further enhances our housing platforms in the Netherlands, which remains a key focus of our strategy.

The assets and site have significant opportunities for asset management and potential residential redevelopment, and we believe that the site provides an exceptional opportunity to provide much needed additional housing which is required to support the continued population growth in Amsterdam.

Round Hill remains committed to making further investments in residential and student housing assets and developments in the Netherlands and across Europe in line with our existing strategies.”

Maarten de Gruyter, director of Boelens de Gruyter, said:

“This acquisition will help satisfy pent-up housing demand. The Municipality is well aware that the continuing growth and increasing popularity of Amsterdam are the driving force behind the demand for more residential space. Redevelopment in this area can help satisfy this demand. In addition, the location is quite unique, close to the A10 ring road and very accessible. The city centre is only 10 minutes away by bicycle, and the famous Vondelpark in Amsterdam is also nearby.”

About Round Hill Capital

Round Hill Capital is a leading global specialist real estate investment, development and asset management firm with a long and proven reputation for successfully identifying and acquiring high quality real estate investments.

Round Hill Capital is a highly focused investor and is experienced in establishing and running first class operating companies, having invested more than €8 billion of capital in real estate assets since its inception in 2002.

Round Hill has a successful track record of investing in and operating residential and student accommodation assets across Europe. The Group has acquired, built and managed over 110,000 residential units and student housing beds in recent years and currently manages circa 65,000 residential units and student housing beds in eight European countries. Round Hill’s approach incorporates multiple strategies, such as acquiring existing assets, developing new purpose-built assets, forward-purchasing and repositioning assets.

Round Hill Capital has an established track record of generating high risk adjusted returns and invests in and asset manages real estate with some of the world’s leading institutions and private investors.

Further information on Round Hill Capital is available at: www.roundhillcapital.com.

About Boelens de Gruyter

Property developer Boelens de Gruyter is specialised in urban redevelopment projects. It relishes the challenge of transforming existing buildings in order to give them a new and sustainable future, as well as redeveloping existing inner-city areas to give them a completely new function. Examples include the successful transformations of the Parool Tower and the Trouw building on the Amsterdam Wibaustraat, as well as the redevelopment of the former KPN buildings in Den Bosch and Venlo into new residential/work locations and museum/work locations, respectively. Boelens de Gruyter is also a partner of RHC in the Ringpark acquisition and the transformation of the ‘Merwede Kanaal zone’ in Utrecht, where industrial properties will be redeveloped over the coming years into the new green urban Merwede neighbourhood.

For further information, please contact:

Communications Adviser to Round Hill Capital

Maitland/AMO

James Benjamin

Tel: +44 (0) 7747 113 930

roundhill-maitland@maitland.co.uk