Round Hill Capital agrees to acquire leading Czech residential property company RPG Byty.
London, UK / Prague, Czech Republic, 6th August 2015 – A Czech investment affiliate of Round Hill Capital (“Round Hill”), the fully integrated global real estate investment and asset management firm, has agreed to acquire RPG Byty, the largest privately owned rental residential real estate company in the Czech Republic.
Czech investment affiliates of Round Hill are acquiring a 100% interest in RPG Byty, s.r.o. along with its facilities management company, RPG Sluzby, s.r.o. The portfolio consists of 43,083 residential units with a total area of approximately 2.6 million square metres that are concentrated in the second largest urban area in the Czech Republic, the Ostrava region.
Round Hill has an established track record of managing residential property in the Netherlands, Germany and the UK. Since its inception, Round Hill has managed over 55,000 residential units in Europe and is one of the leading operators of multi-family housing having worked cooperatively with relevant stakeholders in each jurisdiction. The acquisition of RPG Byty and RPG Sluzby marks Round Hill’s entry into the residential market in the Czech Republic.
Commenting on the acquisition, Michael Bickford, Founder and CEO of Round Hill Capital, said:
“Round Hill has a long and proven track record of successfully and actively investing in and managing European residential property. We look forward to working together with the RPG Byty and RPG Sluzby management teams to continue to manage the companies in a responsible fashion and to ensure that tenants benefit from our focus on long term ownership and our professional residential property management approach.”
Pavel Klimes, co-CEO responsible for operations of RPG Byty, commented:
“During the last 10 years, the portfolio of RPG Byty has been substantially refurbished, delivering a materially better living experience to our tenants, and we have created an efficient management business to lease and maintain the properties. We are pleased that it has been agreed to sell the entire portfolio to Round Hill, an established residential investor and manager and we are confident they will be a reliable landlord for the tenants.”
Martin Raz, co-CEO responsible for finance of RPG Byty, commented:
“We look forward to being part of an international real estate organisation such as Round Hill Capital, which has a successful track record in investing in and managing residential real estate that will be beneficial for RPG Byty and RPG Sluzby going forward.”