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Blackstone/Round Hill JV to sell Czech residential property company for €1.3B

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Blackstone/Round Hill JV to sell Czech residential property company for €1.3B

The Blackstone Group Inc. group and Round Hill Capital LLC agreed to sell RESIDOMO s.r.o. to Sweden's Heimstaden Bostad AB (publ) for €1.3 billion.

RESIDOMO owns the largest privately held residential portfolio in the Czech Republic, comprising roughly 4,515 assets with 42,584 residential units and 1,675 commercial units, according to a release. About a third of the properties are in Ostrava.

Funds advised by Blackstone Tactical Opportunities fund and Round Hill acquired the portfolio in 2015 and rebranded them RESIDOMO following improvements and consolidation of the assets.

The deal is expected to close in the first quarter, subject to customary antitrust clearance.

Round Hill Capital was advised by Evercore, Arcadis, PWC, Simpson Thacher and Dentons on the transaction. Heimstaden was advised by J.P. Morgan, Clifford Chance, Sentient and EY.