Round Hill, QuadReal add €200m to Irish residential venture

Round Hill Capital and QuadReal Property have expanded their Irish residential property venture with an additional €200m commitment.

The latest capital injection, which lifts the partnership’s total capital commitments to €575m, will fund multi-family assets across Dublin and other major Irish cities, the companies said. 

The two firms formed the venture in 2018 and have already deployed €375M in rental assets across Dublin. The partnership’s announced deals include the acquisition of Blackwood Square’s apartments for €123.5m.

Michael Bickford, founder and CEO of Round Hill Capital, said: “Multi-family rental accommodation has proven to be a resilient, long-term investment for institutional investors.

“This partnership is a sign of confidence in our growing strengths and capabilities not only in the Irish market but also our knowledge and expertise in putting tenant experience first to unlock strong yields from high-quality rental accommodation.”

Jay Kwan, managing director, head of Europe, international real estate of QuadReal Property Group, said: “Our global residential experience, with a portfolio of 50,000 rental units, gives us insight and the courage of our conviction to extend the successful partnership with Round Hill Capital in such a compelling market as Ireland.

“We admire what Round Hill Capital has accomplished in the market and are excited to continue our investment strategy there. We will continue to provide high quality, modern and amenitized housing to a chronically undersupplied market.”

John Vaudin, managing director of Round Hill Capital, said: “For too long now, Ireland has been dogged by a chronic undersupply in housing, which has led to inflated house prices in both the rental and private markets. We have a long-term investment strategy in Ireland and are resolute in our mission to help deliver the homes that Ireland’s growing economy requires.

“The extension of our partnership with QuadReal will give us the expertise and investment capacity to meet this challenge now, providing families with high-quality housing for private rent in prime locations with great transport links and amenities.”

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