Round Hill Capital, a leading global specialist real estate investor, developer and manager has today announced its latest acquisition, a new 506-bed asset in Maastricht, the Netherlands, as it continues its rapid expansion of investing in student accommodation across Europe. The project will be developed by Urban Developers and comprises 506 student beds, all of which will provide affordable housing options for students.
The new residence will help to address the growing shortage of available student accommodation in Maastricht, with the area’s student population expected to grow by 9 per cent by 2025 – mainly due to the expected influx of international students – which is equivalent to a requirement for an additional 2,000 student beds. Additionally, the asset contains a communal / amenity area of c.500 square metres and will include a gym, work & study spaces, laundry service, reception & facilities management, offering high quality accommodation, services and facilities for local and international students. The asset will be operated by Nido Student and will be available for students before the start of the academic year 2023 / 2024. Construction works commenced in January 2022.
The asset is located in the Randwyck area, which is renowned for hosting the annual European Fine Art Fair. Only a short walk away from one of the world’s leading educational institutions, Maastricht University – ranked the 127th best university in the world. The asset is also close to Maastricht University Sports Centre and Maastricht Hospital. The Randwyck area is very popular with students, with an abundance of bars and restaurants on offer.
This announcement marks another major milestone for Round Hill Capital as it continues to build considerable momentum as one of the leaders in the sector, having completed more than EUR1.5 billion in PBSA transactions across Europe since 2002, including four in the Netherlands. The transaction is one of the four seed assets acquisitions as part of Round Hill Capital’s recently announced record EUR1 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.
Urban Developers will act as the developer and Hurks will act as the general contractor for this project. Loyens & Loeff, PWC and Sweco advised the purchaser on the deal. The seller was advised by BDO and Van Benthem & Keulen.
Source: roundhillcapital.com on the 14th of February
https://roundhillcapital.com/round-hill-capital-makes-further-inroads-across-europe-with-506-student-bed-acquisition-in-the-netherlands/