TPG Real Estate Partners and Round Hill Capital acquire a portfolio of 13 student accommodation assets in Germany
TPG Real Estate Partners (“TREP”) the dedicated real estate equity investment platform of global alternative asset firm TPG, and Round Hill Capital, a leading real estate investment, development and asset management firm, announced today that they have acquired, through a newly-formed strategic venture (“The Venture”), a portfolio of 13 student accommodation assets in Germany. The assets, which were formerly owned by student housing platform Deutsche Real Estate Funds, were acquired through a mutual agreement with all stakeholders. Financial terms of the transaction were not disclosed.
The assets acquired by the Venture consist of c.2,100 units across nine cities in Germany (Berlin (3), Bochum, Bremen, Essen, Halle, Kiel (2), Ludwigsburg, Siegen and Stuttgart (3)). The assets are generally situated within easy commuting distance to some of Germany’s major universities and key amenities across each city. The Venture will leverage TREP and Round Hill Capital’s experience managing and investing in European real estate portfolios to enhance the properties through refurbishments and operational improvements. TREP and Round Hill Capital will continue to target opportunities in line with the Venture’s strategy to acquire and reposition existing assets as well as develop new purpose-built properties across select university cities and towns in Germany where there is a strong and increasing demand for high-quality, well-managed student housing but persisting supply constraints …