Mayer Brown has recently advised Round Hill Capital, a real estate investment, development, and asset management firm, on the sale of its student housing business, Nido Living, to Canada Pension Plan Investment Board (CPP Investments). This transaction marks a significant milestone for Round Hill Capital, which initially acquired Nido Living in 2012 and has since established it as one of Europe’s leading providers of purpose-built student accommodation.
As part of the deal, Round Hill Capital is divesting its stake in the existing student accommodation joint venture with CPP Investments, encompassing over 5,000 beds across 15 European assets. The sale also involves the dissolution of the joint venture that was set up in 2021. The transaction was facilitated by a team from Mayer Brown, led by Real Estate partner Simon Price and Corporate & Securities partner Alastair Dolman, along with several other legal professionals from the firm.
The Mayer Brown team involved in the transaction included Corporate & Securities associates Madeleine Pryde, Anna Jackson-Smith, and Josephine Wong from London, as well as counsel Tobias Reiser, Tina Hoffmann, and Malte Richter from Frankfurt. Additionally, Tax Transactions & Consulting partner Ben Eaton and associate Tamar Ruiz, Intellectual Property partner Mark Prinsley and associate Reece Randall, and Employment partner Miriam Bruce and counsel Katherine Fox, all contributed to the successful completion of the deal. This collaboration showcased the firm’s cross-border capabilities, drawing expertise from practices in both London and Germany.
Round Hill Capital’s decision to sell Nido Living and its stake in the student accommodation joint venture aligns with its strategic objectives and signifies a significant shift in its investment portfolio. The sale to CPP Investments reflects the attractiveness of the student housing sector and highlights the growing interest from institutional investors in this market. The transaction not only underscores the success of Round Hill Capital’s stewardship of Nido Living but also demonstrates the continued confidence in the European student accommodation sector.
With this transaction, Round Hill Capital has unlocked value and paved the way for future growth opportunities. The collaboration with CPP Investments further strengthens the position of Nido Living in the European student housing market and sets the stage for continued expansion and development in the sector.
