Student Accommodation Development Purchased by Investment Firm
Real Estate investment firm, Round Hill Capital, have bought a 368-bed student accommodation development in the Liberties area of Dublin 8. They have partnered up with NBK Capital, a Middle Eastern investment company, who will help fund the development believed to be valued at around €85m.
Round Hill Capital own a number of apartments and student accommodation beds across Europe, including sites in the UK, Sweden, Spain, the Netherlands and Portugal. This will be their 3rd student accommodation development in Ireland with locations in Dublin and Cork. They also own a 216-unit apartment development in Santry, Dublin 9.
Their latest acquisition was purchased from urban mixed-use regeneration project specialists, Summix. This is unlikely to be the last time they do business together as they have already planned on working in partnership on additional student accommodation projects across the country.
Round Hill Capital’s investment in Ireland won’t be stopping at student accommodation as they also have plans to enter into the countries ever growing build-to-rent market. When speaking about this possible investment their founder and CEO, Michael Bickford, said: “We recognise that areas of the student and residential housing markets in Ireland suffer from persisting structural supply constraints and we look forward to helping alleviate these pressures and significantly further expanding Round Hill Capital’s business in Ireland and across Europe.”
