Round Hill Capital acquires a nordic logistics and industrial portfolio consisting of 18 properties for approximately usd 200 million.
UK / Nordics, 1 September 2016 – Round Hill Capital (“Round Hill”), a leading European specialist real estate investment and asset management firm, announces today that it has acquired, in partnership with StepStone Group Real Estate LP (“StepStone Real Estate”), a Nordic logistics and industrial portfolio for a total purchase price of approximately USD 200 million.
The portfolio comprises six aggregated portfolios holding 18 well located assets spanning approximately 326,000 sqm across Norway, Sweden and Denmark, providing geographic and tenant diversification and strong covenants across a diversified mix of industries. The portfolio was acquired from a group of companies of NLI Eiendomsinvest AS, a real estate investment company based in Oslo, Norway.
The acquisition marks Round Hill Capital’s entry into the Nordic region.
Colliers International AS in Norway provided full advisory services to Round Hill Capital including introducing NLI Eiendomsinvest AS to Round Hill Capital in an off market transaction. Colliers in Sweden and the UK also co-assisted on the deal capitalizing on Colliers’ deep knowledge of the Nordic market and participants.
DLA Piper was Round Hill’s legal advisor for the transaction.
Commenting on the acquisition, Michael Bickford, founder and CEO of Round Hill Capital, said:
“Round Hill has been evaluating the Nordic markets for several years and is pleased to have acquired the NLI Eiendomsinvest portfolio, which provides stable rental income and positive risk adjusted returns consistent with our overall investment strategy. We will use our firm experience and expertise to build a local management team and continue to look in the market for other portfolios and assets with similar value characteristics.
“We believe the Nordic region benefits from positive macro-economic trends, attractive yields for commercial, industrial and logistics properties and strong rental growth.”
Per Morten Kiil, CEO of NLI Eiendomsinvest, commented on the sale:
“This is the final disposal by the Fund and is in line with our strategy of a portfolio wide exit. We continuously worked towards optimizing the portfolio and this sale meets the strategic objectives and targets of the Fund as it approaches maturity.
“The Fund seized upon the opportunity of the strong interest from international investors to enter the Nordic logistics and industrial market.”
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About Round Hill Capital:
Round Hill Capital is a leading European specialist real estate investment and asset management firm. Round Hill Capital has a long and proven reputation for successfully identifying and acquiring high quality European real estate.
Round Hill Capital is a highly focused investor and is experienced in establishing and running first class operating companies, having invested more than €6.0 billion of capital in European real estate assets since its inception in 2002. Round Hill Capital has successfully acquired and managed more than 100,000 residential units across Europe and currently is one of the largest private landlords in multiple countries.
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
StepStone Real Estate is an affiliate of the StepStone Group (“StepStone”), focused on principal investments and advisory in real estate private equity. StepStone and its affiliates oversee over $91 billion of private capital allocations, including approximately $24 billion of assets under management, across real estate, private equity, infrastructure, real assets and credit. StepStone is a global firm with offices in Beijing, Hong Kong, La Jolla, London, New York, Perth, San Francisco, São Paulo, Seoul, Sydney, Tokyo and Toronto.
About NLI Eiendomsinvest AS:
NLI Eiendomsinvest AS is a property company / Fund established in 2006. The company is owned by approximately 400 shareholders.
Further information on NLI Eiendomsinvest AS is available at: www.nli-eiendomsinvest.no