“Round Hill Capital Invests in Workforce Housing Development in Lake Worth Beach, Florida”

Press release dated December 17th follows and is headlined, “Continues Round Hill Capital’s Expansion in U.S. Housing Market”:


LONDON & NEW YORK — (BUSINESS WIRE) — Round Hill Capital, a leading global real estate investment, development and asset management firm, today announces that it is investing in a workforce housing development project located in Lake Worth Beach, Florida.

The project, named “The MID”, represents the second in a series of investments under a joint venture between Round Hill Capital and Affiliated Development, a Fort Lauderdale-based real estate development firm. This investment forms part of Round Hill Capital’s Environmental Social and Governance (“ESG”) Strategy, demonstrating its commitment to targeting opportunities that bring about a positive social impact and helping to drive further sustainability and corporate responsibility within the firm.

The MID will consist of 230 rental units and cater to the growing workforce population by offering rental rates at a meaningful discount to the surrounding metro areas, while still allowing residents to maintain a high-quality of living. The MID will feature Class A amenities and facilities, including a resort-style pool deck, fitness room with yoga/cycling studio, community room, co-working facility, private dog park and full-time concierge. The building will also include 10 ground floor live-work spaces and gated private parking. Located a mile north of downtown Lake Worth Beach, an area that is currently being revitalized via public and private investment activities, The MID is situated in the middle of two fast growing markets, West Palm Beach and Boynton Beach/Delray Beach, and is expected to open in early 2021.

In partnership with the Lake Worth Beach Community Redevelopment Agency and the City of Lake Worth Beach, The MID development project received approximately $5.1 million in gap financing and tax rebates, helping to enable the joint venture partnership to offer high-quality apartments at an attainable rate.

In April 2019, Round Hill Capital closed on its first investment with Affiliated Development, The SIX13, a 142-unit attainably-priced development located in the Progresso Village district of Fort Lauderdale, Florida.

Rob Reiskin, Senior Managing Director, Head of Americas at Round Hill Capital, said:

“This investment is consistent with Round Hill Capital’s strategy of investing in and operating high-quality residential accommodation assets in the U.S. The need for reasonably-priced housing options in South Florida, an attractive region backed by strong demographics and a highly skilled workforce, is greater than ever. We are proud to be supporting the growing Lake Worth Beach community and further expanding our commitment to targeting opportunities that bring about a positive social impact, by providing South Florida residents with much-needed, high-quality residential options offered at a meaningful discount to the surrounding metro areas.

“Affiliated Development has been a tremendous partner to date, and we look forward to pursuing and developing a significant multifamily housing portfolio in underserved areas within South Florida through our joint venture.”

Michael Bickford, Founder and CEO of Round Hill Capital, commented:

“The U.S. residential market continues to be an important area of focus for Round Hill Capital. We have a strong team in place to identify acquisition opportunities backed by attractive investment fundamentals and robust future growth drivers and we are excited by the strength of our attractive pipeline of investment opportunities as we expand our U.S. presence.”

About Round Hill Capital Round Hill Capital is a leading global specialist real estate investment, development and asset management firm. Since inception in 2002, Round Hill Capital has acquired and repositioned for long-term institutional ownership over 110,000 residential units and student housing beds. Round Hill Capital is a responsible landlord of assets offering housing to a range of occupants, from students through to senior citizens.

Round Hill Capital has an established track record of generating high risk-adjusted returns and invests in and asset manages real estate on behalf of some of the world’s leading institutions and private investors.


Further information on Round Hill Capital use this link.

Lake Worth Beach, suburban Lake Worth and Greenacres: Help PBSO eliminate graffiti in your neighborhood.

PBSO Graffiti Eradication Unit.

NO COST TO YOU!
IT’S FREE!

Take back your street, neighborhood,
community and parks.

Help PBSO District 14 (Lake Worth Beach) and District 16 (City of Greenacres) and help PBSO in unincorporated Palm Beach County as well (e.g., places like John Prince Park in suburban Lake Worth and Lake Osborne Estates). . .

• If you see GRAFFITI IN PROGRESS call 911 immediately!
• Non-emergency number: 561-688-3400.
• Have a chronic graffiti problem? Call CrimeStoppers at 800-458-8477. Be eligible for a reward and remain anonymous.

How the PBSO Graffiti Eradication Unit came to be:

In early 2005 Sheriff Ric Bradshaw established this program to rapidly respond and remove graffiti within unincorporated Palm Beach County and select municipalities that now include the cities of Lake Worth, Greenacres, South Palm Beach and Palm Beach Shores.

It is very worth noting that Greenacres received high honors for “Safest Cities in Florida 2018” in Palm Beach County; however, the data from City of Lake Worth was late arriving to the judges showing a significant drop in crime.

The villages of Wellington and Royal Palm Beach — also patrolled by PBSO — were also ranked very high on the “Safest Cities” list as well.

Get signed up for “Critical Event” alerts in Lake Worth Beach.

You can get signed up today and it only takes a few moments. Continue reading to find out how. Here is information from the City:

Get up-to-the-minute information about severe weather, road closures, and much more.

Your safety is our top concern — That’s why the City of Lake Worth Beach wants to make sure you know about emergencies and incidents as they happen.

The City of Lake Worth Beach will begin to use an emergency communication service powered by Everbridge to make sure you know about issues that may affect your safety. This system allows the City to contact thousands of residents in seconds so you can find out about an emergency right away.

Receive important messages from the City of Lake Worth Beach via email, phone, and much more.

How Does It Work?

The process begins when the City of Lake Worth Beach issues a message about a potential safety hazard or concern. Next, the emergency notification system sends a message through your primary contact path. If you don’t confirm receipt of the message, the system will try to reach your second contact path and continues trying to reach you until you confirm receipt.

The success of this service relies on YOU.

Having your latest contact information is the only way to ensure that we can contact you in an emergency.

Please sign up online by clicking on this link. It only takes about a minute to enroll, or you can sign up by texting LAKEWORTHBCH to 888777 (message and data rates may apply).

Thank you in advance for your cooperation and participation in this important program!