KKR and Round Hill Capital have jointly acquired a housing scheme in the Netherlands that will provide 173 apartments.
This is KKR’s first investment in European student housing. It is also the launch of the KKR/Round Hill partnership and the partnership’s first investment.
The project has been acquired from Ontwikkelings Combinatie Oudenrijn. KKR and Round Hill have secured financing for the project with ING Bank NV.
The site is located between Utrecht Central railway station and the City’s business district.
The Oudenrijn hospital building, which is part of the site, will be transformed and, together with a new 23-storey building that will be built, will provide 577 purpose-built student accommodation beds.
Once complete, the PBSA will be managed by The Nido Collection, Round Hill’s operational platform and brand for European student accommodation.
Michael Bickford, founder and chief executive of Round Hill Capital, said: “This transaction, alongside our other recent Dutch investments, enhances our platform in the Netherlands, which remains a key focus of our strategy.
Seb d’Avanzo, director at KKR, added: “We see significant upside potential in the Netherlands, a market that exhibits strong growth drivers for student housing.”
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