TPG Real Estate and Round Hill buy 13 student properties in Germany

TPG Real Estate Partners (TREP) and Round Hill Capital have acquired a student housing portfolio in Germany, their first joint transaction in the country.

Financial details were not disclosed. The seller was student housing provider, Deutsche Real Estate Funds.

The portfolio consists of 13 assets, comprising a total of 2,100 units across nine cities, including Berlin, Bremen and Stuttgart. The properties are generally situated within easy commuting distance to some of Germany’s major universities and key amenities.

The transaction follows a joint similar joint venture last year, when TREP and Round Hill Capital acquired 39,000 m2 of buildable area in central Lisbon, Portugal, with plans to develop high-quality student accommodation and residential apartments on the site. 

Michael Abel, partner at TPG Real Estate, said: ‘The student population in Germany is one of the largest and fastest growing in Europe. Despite this, the country’s student housing sector is still underdeveloped, with few institutional operators of scale.

‘We are pleased to partner with Round Hill Capital and all existing stakeholders on this complex transaction to bring more high-quality accommodation options to students across the country. The acquisition highlights TREP’s ability to source, carve out, and invest behind value-add assets in key European locations that are benefiting from strong economic fundamentals. We look forward to building and enhancing the portfolio.’

Michael Bickford, founder and CEO of Round Hill Capital, said: ‘Round Hill Capital has long-established expertise and capabilities as an investor in student accommodation and wider residential housing, with a focus on responsible, hands-on asset management. We have a 17-year track record of successfully investing in and reliably operating residential housing in Germany.

‘The acquisition of this portfolio of student accommodation assets across Germany is TREP and Round Hill Capital’s first joint transaction in the country. We are committed to bringing our expertise in the student housing sector to the German market and plan to make further investments in line with this new strategy and growth plans to build a substantial and well-managed platform in Germany.'

CBRE advised TREP and Round Hill Capital on the transaction.

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