Round Hill enters Finland with major resi acquisition

US developer-investor Round Hill Capital has made its first foray into the Finnish residential property market with the purchase of 3,263 units in one of the country's largest property deals so far this year.

The portfolio consists of 106 well located properties across the south of Finland as well as the Helsinki Metropolitan area. It was acquired from Avant Capital Partners, a Finnish asset management company which manages real estate for international investors, and its US-based investment partner.

Financial details were not disclosed.

Round Hill said that it had been evaluating the Finnish residential markets for several years. 'We believe that select areas of the Finnish residential market benefit from favourable macro/micro-economic trends, attractive yields and strong rental growth, with increasing urbanisation helping to support the demand fundamentals. Taken together with our proven investment and operating expertise, we look forward to building a substantial residential platform in Finland,' said Michael Bickford, founder and CEO of Round Hill Capital. 'We continue to look for further acquisitions in the Finnish market with similar value characteristics.'

'After investing significant time and effort in developing the residential platform to this point though multiple acquisitions, key hires, management setup and operational improvement measures, we’re delighted to see the portfolio to enter into next phase with the new owner,' commented Lorenz Merk, partner at Avant.

Avant was advised by Paul Hastings, Krogerus Attorneys and PwC. Round Hill Capital was advised by GEM Property, Knight Frank and NCAP.


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