Round Hill invests €200M
Round Hill Capital has invested €200 million in the acquisition of Smart Studios.
The investment involves the purchase of properties with 2,000 student beds spread over nine sites in Lisbon and Porto for the creation of an Iberian portfolio with a total of 5,000 beds.
Most of the residences are in the Lisbon area (88%) and an asset in the Porto area (12%) with around 900 beds spread out over five buildings that will be operational this year, with the delivery of the other four buildings slated by 2025.
João Pita, Head of Portugal of Round Hill Capital told Jornal Económico that the focus was to maintain its long-term investment commitment in Portugal “where we have identified an attractive market in the class of assets in which we operate, in particular the student accommodation segments”.
On the other hand, he stresses that apart from the student accommodation, Round Hill Capital is looking at identifying opportunities in the residential segment.
“We currently have our project Lumino development under construction in Lisbon at Campo Pequeno that will have 97 high quality apartments and a 380-room students’ residence.
The students’ residence will open its doors in September, while the first residential units will be ready in the first half of 2023”, says João Pita.
João Pita says that the company’s focus is in the large cities in Portugal, Lisbon and Porto, where there is great potential in the asset classes that Round Hill is involved in.