Round Hill Capital purchase 250-bed asset for students in Valencia

Round Hill Capital, a leading global specialist real estate investor, developer and manager has today announced its latest acquisition, a new 250-bed asset in Valencia, Spain, as it continues its rapid expansion of investing in new student accommodation across the primary and secondary Iberian cities.

Designed by TCH Arquitectura and Morph Estudio, the asset will be delivered by Atitlan and Area Desarrollo, comprising 250 modern student-focused hotel-style apartments in a city with a severe shortage of quality student accommodation. It is located 200 metres away from the main city campus of Polytechnic University and Universidad de Valencia and is well-served by public transport with a nearby tram station connecting it to the two universities. The city centre is within cycling distance and 12 minutes by public transport, with Malvarrosa beach located nearby. Construction works are expected to start in 2022.

The announcement marks another major milestone for Round Hill Capital as it continues to build considerable momentum in the sector, with 40 PBSA acquisitions across Europe since 2002, including over 1,150 student beds in Iberia. The deal comes after Round Hill Capital recently announced a record €1 billion+ joint venture with Canada Pension Plan Investment Board (CPP Investments). The partnership is one of the largest Pan-European student accommodation mandates in history.

Nido Student, the international award-winning* PBSA brand of Round Hill Capital, will mobilise and manage the asset. Leveraging its decade of sector-specific knowledge and expertise, Nido has earned a market leading reputation for its focus on student wellbeing, design, technology, and sustainability. Thanks to its continued on-the-ground research, Nido has become the preferred operator for pan-European student accommodation as it understands how to provide residents with a lifestyle that supports and builds positive communities.
Nido currently operates 24 student residences across Europe comprising over 5,000 beds with an additional secured pipeline of 3,000+ beds that will be mobilised in the coming years, including a 500-bed asset in Aravaca, Madrid.

Commenting on the acquisition, Brian Welsh, Head of Student at Round Hill Capital, said:
“This latest acquisition demonstrates our continued strength in the student accommodation market, and the continuation of our investment strategy in key European cities like Valencia. As we emerge from the pandemic, and even long before it began, we have seen a growing appetite for high quality student accommodation across Europe.
This new development in Valencia aims to benefit many students looking to study at two of Europe’s most sought after universities and will make an excellent addition to our expanding portfolio with CPP Investments. By leveraging our on-the-ground Iberian team, we plan to unlock further value with additional acquisitions in the years ahead.”

Oscar Bernaldo de Quiros, Head of Iberia at Round Hill Capital, said:
“We are delighted to be partnering with Atitlan and Area Desarrollo, quality partners with vast local experience, to deliver much needed student focussed accommodation in Valencia. In doing so, we are able to commit to acquiring a high-quality product, with significant risk mitigation measures in place in the development management process. We look forward to further expanding this collaboration across the region. Round Hill Capital remains committed to delivering much needed accommodation across Southern Europe with a deep focus on environmental and social well-being.”