British property investment firm Round Hill Capital has bought a portfolio of 3,786 Dutch properties from the Wooninvesteringsfonds housing corporation for €365m.

Round Hill is the second foreign investor to buy into Dutch social housing stock since the government began encouraging corporations to divest some of their homes. In July, German group Patrizia bought a 5,500 home portfolio from Vestia for €577m. Vestia was in serious financial trouble after investing in complicated derivatives.

In June Round Hill bought a residential portfolio of 1,534 units from funds managed by CBRE Global Investors for €180m and plans to combine the two acquisitions, which are scattered throughout the country.