Round Hill Capital has announced today two significant investments in the Spanish purpose-built student accommodation (PBSA) sector as it continues to accelerate its investment pipeline into new student accommodation across Iberian major cities. The investments are part of an innovative €1 billion+ European joint venture with Canada Pension Plan Investment Board (CPP Investments), forming one of the largest Pan-European student accommodation mandates in history.
Seville
A fully operational asset in Ramon Carande, Seville has been purchased for €33m, comprising 413 high-quality student-beds and common areas such as study rooms, gymnasium, and a rooftop with swimming pool. It is located within a short walking distance from the two main city campuses of the University of Seville and is adjacent to the EUSA University, while being 10 minute walking distance from the historic center. Round Hill Capital plans to make significant improvements to the asset to ensure it delivers on its full potential and will include outdoor spaces and common areas.
Seville transaction was advised by Ashurst, Deloitte and Hollis on the buy side, and BDO and Arcano on the sell side.
Madrid
A forward funded deal for a 180-student bed asset in Madrid worth €30m. The asset will be developed by Alta Real Estate in collaboration with Grupo Ibosa, designed by Morph Estudio, and is located near Plaza de Castilla, an attractive location close to Madrid's most important universities, including the recently opened IE university tower. It is also well-served by public transport by the Plaza de Castilla hub and the Chamartin train station, offering metro station, local and regional. The Castellana 200 shopping centre is a 10 minute walk, as well as the Real Madrid stadium and other amenities close by.
Madrid transaction was advised by Ashurst and Hill International on the buy side, with CJO and Savills on the sell side.
Nido Student, the international award-winning* PBSA brand of Round Hill Capital, will mobilise and manage both assets. Leveraging its decade of sector-specific knowledge and expertise, Nido has earned a market leading reputation for its focus on student wellbeing, design, technology, and sustainability. Thanks to its continued on-the-ground research, Nido has become the preferred operator for pan-European student accommodation as it understands how to provide residents with a lifestyle that supports and builds positive communities.
Oscar Bernaldo de Quiros, Head of Southern Europe Investment at Round Hill Capital, commented:
“These latest deals add to the 1,350 high-quality student beds Round Hill Capital has already acquired across Iberia this year, and reflect our ongoing commitment to obtaining a strong PBSA presence across the region. It is our goal to carry out new acquisitions in other key student cities in Southern Europe, such as Barcelona, Malaga, Milan, Rome, Torino and Bologna, whilst increasing our current exposure in Madrid, Lisbon, Valencia and Seville. We are continuing to seek new opportunities across the region’s major cities - whether that’s via the acquisition of operational assets and portfolios, or via third party development of land assets.”
Brian Welsh, Head of Student at Round Hill Capital, added:
“As we expand our portfolio with CPP Investments in the Southern Europe PBSA sector, this €63m investment adds two significant assets in Seville and Madrid, reinforcing our leading role in the student accommodation market across the continent. With the support of our integrated on-the-ground Iberian team, we are confident we will be able to identify even more opportunities across the region in the months and years ahead.”
