CIM Group Partners with Michael Bickford Venture to Create Round Hill Capital Ventures
2024年7月29日 - 4:00PM
ビジネスワイヤ(英語)
CIM Group significantly expands its footprint
in Europe through strategic partnership with established,
vertically integrated pan-European investor
Bickford to serve as CEO of the new $2.1B
platform
CIM Group, a leading community-focused real estate and
infrastructure owner, operator, lender and developer, announced
today that it has provided financing for the creation of Round Hill
Capital Ventures, a newly formed investment platform that has
acquired management contracts for assets formerly managed by Round
Hill Capital. Michael Bickford will serve as CEO of the successor
entity, with the portfolio continuing to be managed by highly
experienced teams across six offices in the EU, the U.K. and the
U.S. As part of the partnership, CIM Group is also providing growth
capital to Round Hill Capital Ventures for its continued
expansion.
Round Hill Capital Ventures will manage a $2.1 billion portfolio
of high-quality investment and development real estate located
predominantly in Europe and concentrated in the living sector,
representing 13,450 residential units in 10 countries including the
U.K., Netherlands, Germany, Spain, Portugal, Ireland, Denmark,
Finland, France and the U.S.
The new platform will build upon the longstanding strength of
former Round Hill Capital’s vertically integrated real estate
management business, which will now benefit from CIM Group’s scale
and breadth of experience across multiple real estate and
infrastructure asset classes as well as its access to growth
capital and complementary operational expertise.
CIM Group currently owns and operates $28.6 billion in assets
across 135 communities across North America, Latin America and the
U.K.
CIM Group’s investment will help position Round Hill Capital
Ventures for accelerated growth and strengthen its ability to raise
and deploy capital as well as enhance its relationships with global
capital partners, all of which will build upon Mr. Bickford and his
team’s strong investment track record across Europe. The new entity
will also benefit from CIM Group’s expertise to help increase
operational efficiency.
Since the formation of Round Hill Capital in 2002, funds managed
by Mr. Bickford and the Round Hill Capital management team have
transacted in excess of $13 billion of real estate and invested in
more than 140,000 residential units and student housing beds.
“CIM Group’s investment in Round Hill Capital Ventures is part
of our firm’s longstanding practice of expanding our platform by
partnering with best-in-class managers in their home markets,
including by providing financial and operational support. We
believe Round Hill Capital Ventures will be a top-tier living
sector fund manager across the EU and the U.K., and we look forward
to being a part of its growth going forward as an investor and
supportive partner,” said Richard Ressler, Co-Founder and Principal
of CIM Group.
“CIM Group is a strong investment partner with a 30-year track
record of successfully managing real estate and infrastructure,
along with a substantial credit business. We are excited about this
new chapter to grow our business. We have significant ambitions to
continue expanding across Europe, and CIM Group’s expertise and
resources will be invaluable in helping us achieve those goals,”
said Mr. Bickford. “We believe this strategic partnership with CIM
Group positions us advantageously at a compelling point in the
market cycle across Europe, which should allow us to deliver
superior performance for all of our investment partners.”
Morgan Stanley & Co. LLC served as the exclusive financial
advisor to CIM Group in the transaction.
About CIM Group
CIM is a community-focused real estate and infrastructure owner,
operator, lender and developer. Since 1994, CIM has sought to
create value in projects and positively impact the lives of people
in communities across the Americas by delivering more than $60
billion of essential real estate and infrastructure projects. CIM’s
diverse team of experts applies its broad knowledge and disciplined
approach through hands-on management of real assets from due
diligence to operations through disposition. CIM strives to make a
meaningful difference in the world by executing key environmental,
social and governance (ESG) initiatives and enhancing each
community in which it invests. For more information, visit
www.cimgroup.com.
About Round Hill Capital
For information, visit www.roundhillcapital.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240729167257/en/
Media Contact for CIM Group Bill Mendel Mendel
Communications 917-664-1796 bill@mendelcommunications.com
Media Contact for Round Hill Capital Ventures FTI
Consulting Richard Sunderland, Richard Gotla +44 (020) 3727 1000
roundhillcapital@fticonsulting.com