Round Hill Capital and NBK Capital have acquired an €85m (£77m) student accommodation scheme in Dublin from Summix.
Construction of the 368-bed project in the Libertines area will start in July and is earmarked for completion in time for the start of the 2022/23 academic year.
The scheme also includes a gym, cinema room and outdoor spaces.
The acquisition is Round Hill Capital’s third student accommodation investment in Ireland. The company acquired a 145-bed development in Cork in December 2018, and a 216-bed scheme in Dublin.
Michael Bickford, founder and chief executive of Round Hill Capital, 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.”
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