Specialist real estate investors extend partnership with commitment of £485m to Irish housing

Round Hill Capital, a London based specialist real estate investor, developer and manager and QuadReal Property Group, have announced the expansion of their joint venture partnership in Ireland.

The €200m (approx. £169m) additional commitment will be used to forward fund the purchase of high-quality multi-family rental assets across Ireland, focusing on apartment blocks in the country’s main cities, including Dublin.

The evolution follows the successful launch of the current partnership in 2018, which has already deployed €375m (approx. £316m) in rental assets across Dublin.

This includes the acquisitions of Bridgefield in 2018, Blackwood Square in 2020 and Carriglea in 2021, delivering a total of 868 high-quality apartments for private rent, with construction works expected to be completed for both projects by Q3 2024.

Today’s announcement brings the partnership’s total funding commitment to Irish housing to €575m (approx. £485m).

Round Hill Capital has a long track record of delivering “much-needed, well-located” accommodation for the private rental market in Ireland. The firm has already made eight investments in the country over the past four years, and has a strong pipeline in place to address the ongoing supply and demand imbalance in the Irish residential market.

Jay Kwan, managing director, head of Europe, international real estate of QuadReal Property Group commented: “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 Round Hill Capital, added: “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.

“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.”