Round Hill Capital has highlighted its commitment to the Spanish accommodation sector by announcing a trio of targeted new investments in key cities.
The company has acquired a historic 400-bedroom hotel, which set to become one of the largest modern accommodation spaces in Madrid, and two new purpose-built student accommodation (PBSA) developments in Madrid and Seville. Combined and once refurbished, this will add a projected 1,228 new beds to Round Hill Capital’s growing real estate portfolio in Iberia. The portfolio, worth a total of €183M in investment and development, is a testament to the accomplishments of Round Hill Capital’s investment offer and on-the-ground development team, as it continues to strategically grow its footprint with selected assets that will offer investors outstanding risk-adjusted returns.
Round Hill Capital has acquired a 24,000sq m vacant, freehold hotel located in prime central Madrid, with a projected total investment over €120M. The building will be refurbished to create a flagship aparthotel scheme specifically designed to provide accommodation with a focus on students and young people. To be developed by Ruesma and designed by Morph Estudio, the space will include F&B spaces, a gym, co-working space, and an interior garden. Once completed, the residence will allow customers to choose between rooms with views looking into Madrid city centre and rooms facing the Madrid Rio park.
A second investment for the forward funding of a 180-student bed residence in Madrid worth €30M has also been announced. This will be developed by Alta Real Estate, in collaboration with Grupo Ibosa, and is also designed by Morph Estudio working closely with Nido Student. The residence is located near the Plaza de Castilla, an attractive district close to Madrid’s most important universities, including the recently opened IE university tower. It also benefits from key public transport services including the Plaza de Castilla hub and the Chamartin train station, offering metro, local and regional connections.
A fully operational asset in Ramon Carande, Seville, was also purchased by Round Hill Capital in early June for €33M. Comprising 413 high-quality student-beds and common areas such as study rooms, gymnasium, and a rooftop with swimming pool, this residence is highly desirable to students. Located within a short walk of the two main city campuses of the University of Seville, and adjacent to the EUSA University, it is also a 10-minute walk to the historic city centre. Round Hill Capital plans to make significant improvements to the asset to ensure it delivers on its full potential, including the creation of new outdoor spaces and common areas.
