Asset in Central Amsterdam Acquired by Round Hill
A Central Amsterdam asset – Ring Park – has been acquired by Round Hill Capital, a leading real estate investment, development and asset management firm, and Boelens de Gruyter, a real estate developer, for potential refurbishment and expansion. The acquisition also represents an opportunity for significant residential redevelopment.
Located near the A10 ring-road in Central Amsterdam, the 11,804 m2 site is in a ‘residential acceleration area’ designed by the Municipality for potential residential (re)zoning, in order to meet the strong and increasing demand for housing in Amsterdam.
“The local Municipality recognises the need for the development of more residential accommodation to meet the persisting supply/demand fundamentals in Amsterdam and this asset is right in the middle of a site already set aside as a potential new urban housing neighbourhood just 10 minutes by bike or tram to the city centre,” said Maarten de Gruyter, director of Boelens de Gruyter.
This acquisition reflects the continuing expansion of Round Hill’s urban regeneration and development strategy in the Netherlands. Back in February of this year, the firm, together with Boelens de Gruyter and G&S Vastgoed, bought approximately 4.5 ha (43,000 m²) in Merwede Canal Zone in Utrecht to be developed into a new urban neighbourhood.
“Round Hill has a well-established and successful investment and development track record and asset management expertise across Europe, and this acquisition site further enhances our platform in the Netherlands, which remains a key focus for our strategy. The asset has significant asset management opportunities and potential residential redevelopment and we believe that it provides an exceptional opportunity to provide additional housing which is required to support continued population growth in Amsterdam,” said Michael Bickford, founder and CEO of Round Hill Capital.
Over the past four years, Round Hill has successfully established its residential investment and asset management platform in the Netherlands and has acquired more than 10,000 Dutch residential units throughout this period. Across Europe, Round Hill has acquired and managed more than 100,000 residential units and has a significant and growing development pipeline.