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Round Hill sells property portfolio for EUR 1.3 bln

Alex Hayes 13 January 2020

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Round Hill sells property portfolio for EUR 1.3 bln
Michael Bickfield is the CEO of Round Hill Capital
CZECH REPUBLIC Funds managed by Round Hill Capital and Blackstone Tactical Opportunities have sold Residomo, which includes its portfolio of residential properties, to Heimstaden Bostad for EUR 1.3 bln.

Round Hill Capital acquired the portfolio in 2015 and it comprises 4,515 assets with 42,584 residential units and 1,675 commercial units. The portfolio is focused mainly in the Moravia-Silesia region, which has over 1.2 mln inhabitants and is the most densely populated region in the Czech Republic after the capital city Prague. Approximately one-third of the portfolio is in Ostrava, which is the second largest city in the country.

Round Hill Capital was advised by Evercore, Arcadis, PWC, Simpson Thacher and Dentons on the transaction, while Heimstaden was advised by J.P.Morgan, Clifford Chance, Sentient and EY.

The transaction requires the approval of the competition authorities but should be completed in Q1 2020.

“This sale is in line with Round Hill Capital’s strategy of investing in high-quality portfolios and improving the value and enhancing the quality of the underlying assets for the long term by optimising their operational performance in a responsible manner. Round Hill Capital’s proven track record and our professional, hands-on residential property management expertise ensures that we provide our tenants and wider neighbourhoods with well-invested and improved homes, communities and management platforms and services that are sustainable over the long term. Round Hill Capital remains committed to investing in, developing and managing residential property across Europe and the U.S. in a responsible manner, and we look forward to expanding our presence across these geographies,” commented Michael Bickford, the CEO of Round Hill Capital.

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