After almost nine months, British venture capital group Round Hill Capital has finalised the purchase of 3,700 Dutch rental properties from housing corporation WIF, the Volkskrant says on Thursday.
Last November, WIF announced it had reached a deal with Round Hill Capital to buy the properties for €365,000, or less than €100,000 per property.
Housing corporations, tenants’ organisations and local government officials had tried to head off the takeover but have now agreed, on the condition Round Hill opens a proper dialogue with tenants and keeps local councils informed.
WIF was set up by a number of housing corporations in 2005 to park property they wished to sell. Round Hill has also agreed they will benefit from the fund’s growth.
Round Hill has been involved in buying several other Dutch property portfolios
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