Denmark: Real estate investor Round Hill Capital has acquired three newly built, BTR freehold assets in Aarhus, Denmark’s second largest city.
The portfolio was acquired from three investment vehicles established and managed by Pareto Securities.
The purchase has been made on behalf of Round Hill Capital’s European Residential Income Fund II (ERIF II), which also owns around 1,700 residential units across Germany, Ireland, the Netherlands and Finland.
The portfolio includes 324 units – a mix of one-, two- and three-bedroom apartments totalling more than 21,000 square metres. Two of the buildings, totalling 276 units, are in the Tilst neighbourhood, with the third 48-unit building located in Risskov.
Michael Bickford, founder and CEO of Round Hill Capital, said: “High quality, modern residential assets with good environmental credentials, located in leading European cities with strong supply / demand fundamentals, remain a conviction asset class for Round Hill Capital. Securing these assets off market at a pricing level that we consider extremely attractive in the current market, demonstrates our ability to source opportunities with strong income characteristics, while at the same time acting as a dependable buyer providing transaction certainty despite the challenging economic environment.”
Both sites are close to multiple educational institutions and the Aarhus University Hospital – the largest workplace in Aarhus with more than 10,000 employees.
Nectar Asset Management manage the properties, with LokalBolig as the leasing agent.
The acquisition comes just two months after Round Hill Capital wound up its European arm.
