Round Hill Capital & NBK Capital Acquire First Irish Student Accommodation Development Scheme in Cork, Ireland

Round Hill Capital (“Round Hill”), a leading real estate investment, development and asset management firm, announces that funds advised by Round Hill and NBK Capital (“NBKC”) have acquired a 1 acre (0.38 ha) site with planning permission at Farranlea Road, Cork, and will immediately proceed to construct a mixed-use project including 145 purpose-built student accommodation (“PBSA”) beds and facilities. Round Hill and NBKC also plan the acquisition and development of further PBSA schemes in Cork, Dublin and Galway, that will deliver in excess of 1,200 beds.

The development site acquired in Cork is located close to the city centre, at Farranlea Road with easy access to both University College Cork and Cork Institute of Technology. The building will be managed by Nido Student, Round Hill’s established operational platform and brand for European student accommodation. Nido Student provides a home, lifestyle and experience which both inspires students and helps to build a real community. Nido Student acts for Round Hill advised and third-party capital partners across Europe.

Ireland is enjoying a period of sustained economic growth leading to increasing demand for all types of residential accommodation. Supply constraints are causing structural imbalances and inflationary pressures. These PBSA development schemes will help to meet the need for student accommodation and free up private traditional housing, currently occupied by students, increasing the supply of much needed housing for families and young professionals.

Round Hill has been evaluating the Irish real estate market for several years and has over €1 billion of dedicated capital to deploy into the local build-to-rent and purpose-built student accommodation sectors in Ireland.

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 operates circa 65,000 in eight European countries. Round Hill’s approach incorporates multiple strategies, including acquiring existing assets, developing new PBSA, forward funding and repositioning assets in select university towns and cities across Europe.

Round Hill has a significant European residential and commercial development business with 10 projects on site with a total investment committed in excess of €1.2 billion. The Group’s current development programme will deliver over 6,700 homes/beds including build-to-rent, purpose-built student accommodation and apartments for sale with live development schemes in the UK, Spain, Portugal, Sweden, the Netherlands and now Ireland.

John Vaudin, Managing Director Round Hill Capital (Ireland), said:

“Thanks to its growing economy, Ireland continues to attract increasing numbers of students, both locally and internationally, and we look forward to playing an integral role as Ireland grows into one of the world’s leading university locations. We are continuing to build on our residential-led property strategy across Ireland, bringing over €1 billion of dedicated capital to deploy into these sectors coupled with our expertise in investing in and operating student accommodation and residential assets across Europe.”

Michael Bickford, founder and CEO of Round Hill Capital, said:

“Round Hill has been evaluating and investing into European student and residential markets for several years and is pleased to make its first investment into student accommodation in Ireland. We recognise that areas of the student and residential markets in Ireland suffer from persisting structural supply constraints and we look forward to helping alleviate these pressures on housing. We are proud of our 15-year track record of investment, development and real estate operations across Europe, and we look forward to expanding Round Hill’s business in Ireland and across Europe.”

Faisal Al-Hamad, CEO of NBK Capital, said:

“NBK Capital is pleased to partner with Round Hill Capital in funding student accommodation developments in Ireland, in line with our positive views towards the European purpose-built student housing sector. The stable and growing economy is a key attraction whilst allowing us to create long-term employment and assist in developing the local and wider community in a responsible manner. It is a pleasure to be able to play a part in helping to support Ireland’s growing reputation as a significant European investment destination.”

About Round Hill Capital

Round Hill Capital is a leading global specialist real estate investment, development and asset management firm. Round Hill Capital has 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 €7 billion of capital in European 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 operates circa 65,000 in eight European countries. Round Hill’s approach incorporates multiple strategies, including 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 NBK Capital

NBK Capital, a leading investment company in the Middle East, sets the standard in growth-focused innovative financial products and services. A world-class investment house, NBK Capital’s customer-centric approach provides forward-thinking solutions that address the specific investment needs of clients and investors, institutional customers and high-net-worth individuals.

NBK Capital leverages local and regional experience and expertise by combining the strengths, resources and global network of the National Bank of Kuwait SAKP, one of the largest and oldest financial institutions in the region, with best-in-class investment structuring and execution, on a broad array of financial strategies to consistently deliver integrated value-added solutions. Innovative products, objective research, creative thinking, timely implementation and excellence in service are the standards of quality of NBK Capital.

Operating regionally from Kuwait, Dubai, Istanbul and Cairo, and with over 175 investment professionals, NBK Capital prides itself on a reach and scale that is global, a presence that is regional and a service level that always remains personal.

For further information, please contact:

PR Adviser to Round Hill Capital

Newgate Communications / Murray Consultants

James Benjamin / Douglas Keatinge

Tel: +44 (0) 7747 113 930 / +353 86 0374163

roundhill@newgatecomms.com / dkeatinge@murraygroup.ie