New Round Hill NL project boosts under supplied market
Round Hill Capital has acquired a project to build a 506-bed asset in Maastricht in the Netherlands. The project will be developed by Urban Developers and comprises 506 student beds.
The asset will include a 500 sq m communal amenity area of with a gym, work and study spaces, laundry and reception. The asset will be operated by Nido Student and will be available for students before in time for the 2023/24 academic year. Construction work started in January.
Round Hill said the new residence will help to address the growing shortage of student accommodation in Maastricht. The area’s student population is expected to grow by 9% by 2025, mainly attributable to an expected influx of international students. That will increase the requirement by 2,000 beds.
The asset is located in the Randwyck area of Maastricht.
Round Hill Capital has completed more than €1.5bn in PBSA deals across Europe since 2002 including four in the Netherlands. This transaction is one of the four seed assets for Round Hill Capital’s recently announced €1 billion+ joint venture with Canada Pension Plan Investment Board.
“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,” said Brian Welsh, managing director/head of student at Round Hill Capital.