Round Hill Capital acquires PBSA asset in the Netherlands

Round Hill Capital makes further inroads across Europe with the acquisition of a PBSA asset in the Netherlands.

Round Hill Capital makes further inroads across Europe with a PBSA asset acquisition in the Netherlands | PBSA News
What the PBSA scheme in the Netherlands will look like.

Global specialist real estate investor, developer and manager – Round Hill Capital – has acquired a new purpose-built student accommodation (PBSA) asset in Maastricht, the Netherlands. The acquisition continues Round Hill Capital’s rapid expansion of investing in student accommodation across Europe. Loyens & Loeff, PWC and Sweco advised the purchaser on the deal. The seller was advised by BDO and Van Benthem & Keulen.

Urban Developers will act as the developer and Hurks will act as the general contractor for this project which will deliver 506 student beds – all providing affordable housing options for students. The scheme will also provide a communal/amenity area of c.500 sqm and will include a gym, work and study spaces, laundry service, reception and facilities management – offering high quality accommodation, services and facilities for local and international students.

Construction works started in January 2022 and the scheme is expected to complete before the start of the 2023/2024 academic year. The scheme will be operated by Nido Student and is located in the Randwyck area, which is renowned for hosting the annual European Fine Art Fair. The area is very popular with students, with an abundance of bars and restaurants on offer. The development is also 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.

What the PBSA scheme will look like in the Randwyck area, the Netherlands | Round Hill Capital | PBSA News

This scheme will help address the growing shortage of available student accommodation in Maastricht, with the area’s student population expected to grow by 9% by 2025 – mainly due to the expected influx of international students. This is equivalent to a requirement for an additional 2,000 student beds.

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 €1.5bn in PBSA transactions across Europe since 2002, including four in the Netherlands. This transaction is one of the four seed asset acquisitions as part of Round Hill Capital’s recently announced record €1bn+ PBSA joint venture with Canada Pension Plan Investment Board (CPP Investments). The partnership is one of the largest Pan-European student accommodation mandates in history. 

“This latest acquisition reinforces our position as one of the market leaders in the European student accommodation sector. We expect 2022 to see the sector return to pre-Covid delivery levels of student beds, and developments such as this will play a significant role in easing the pressure on housing stock across Europe’s major cities. 

“This new development in Maastricht will help address the significant shortfall in student accommodation in the area, providing local and international students with high-quality facilities and services near one of the world’s top universities. We are confident that this new asset will make a valuable addition to our growing portfolio with CPP Investments, helping us to unlock further value with additional acquisitions in the years ahead.” 

Brian Welsh, Managing Director/Head of Student, Round Hill Capital