Round Hill Capital Completes the Acquisition of a Residential Portfolio with 577 units in Berlin as Part of its German Residential Strategy
Round Hill Capital (“Round Hill”), a leading specialist real estate investment, development and asset management firm, announces that companies advised by Round Hill have completed the acquisition of a residential portfolio comprising 577 units located in prime inner city neighbourhoods in Berlin, in Friedrichshain-Kreuzberg and Tempelhof-Schöneberg. This transaction is part of Round Hill’s strategy of acquiring residential portfolios in 15 leading greater metropolitan areas in Germany, which exhibit strong macro fundamentals, favourable housing demand/supply dynamics and robust economic performance.
Round Hill Capital is one of Europe’s leading accommodation investment management specialists, with over 56,000 units currently under management across Europe. The portfolio will be managed by RESIDEA Immobilien Management, an affiliate of Round Hill based in Berlin. Round Hill and its affiliates currently manage over 4,000 units in Germany for several institutional and private clients.
The investors in the residential portfolio include, amongst others, Bluerock Group as junior partner and an international insurance group.
Advisors to the transaction were Simpson Thacher & Bartlett, Simmons & Simmons, PWC and Trinavis.
Commenting on the transaction, Michael Bickford, founder and CEO of Round Hill Capital, said:
“This represents the next sizeable transaction in Berlin for Round Hill, following our acquisition in April 2017 of a 770-unit portfolio located in prime inner city neighbourhoods in Berlin. We are accelerating the delivery of our German residential investment management strategy by continuing to acquire high quality, well located portfolios in key metropolitan areas, while growing our integrated residential management platform, in line with our vertically integrated strategy in other markets.
We are continuing to expand Round Hill’s portfolio of residential real estate in Germany as well as other jurisdictions with similar value characteristics.”