Clifford Chance

Clifford Chance advises Rabobank on the financing of a student housing development in Groningen, acquired by KKR and Round Hill Capital

A team from Clifford Chance Amsterdam has advised Rabobank on the financing of a student housing development in Groningen, acquired by KKR and Round Hill Capital. KKR and Round Hill Capital (“Round Hill”) recently announced that their joint venture acquired the land and is forward-funding the development of a 698-bed purpose-built student accommodation (“PBSA”) scheme in Groningen, the Netherlands.

This is the joint venture’s second student housing development in the Netherlands, following their acquisition in July 2018 of a significant development in Utrecht, comprising 577 student beds and 173 residential apartments. The new student housing development scheme will offer 467 large en-suite studio flats and 231 short-stay units. There will be a variety of room sizes, dedicated common areas and amenities for all residents to enjoy as well as 404 sqm of commercial space. Construction is due to complete in early 2020. The building will be managed by Nido Student, Round Hill’s established operational platform and brand for European student accommodation.

KKR and Round Hill have secured financing for the project from Rabobank. Clifford Chance Amsterdam acted for Rabobank on this matter. The team was led by Titus de Vries and furthermore consisted of Liesbeth Buiter, Jasper Dijkshoorn, Joris Dortmans and Catherine van der Helm.