Canadian firm QuadReal Property and US asset manager Round Hill Capital have together acquired a BTR scheme in Dublin.
The pair have acquired the scheme through a joint venture. It is their first residential acquisition in Dublin.
The scheme is located at Northwood, Santry, Dublin 9. The new development is being built by Dublin-based Cosgrave Property Group. It will provide three one-bed, 195 two-bed and 18 three-bed apartments across three separate six-storey buildings.
Round Hill has been evaluating the Irish real estate market for several years and has more than €1bn of dedicated capital to deploy into the local build-to-rent and student accommodation sectors.
Michael Bickford, founder and CEO of Round Hill Capital, said: “Round Hill has been evaluating and investing into European residential and student accommodation markets for several years and is pleased to make its first build-to-rent investment in Ireland, which – like many European countries – is suffering from structural supply/demand imbalances.
“We look forward to helping alleviate these pressures on housing and supporting long-term job creation through Round Hill’s proven 15-year successful track record of investment, development and real estate operations across Europe. We are continuing to expand Round Hill’s business in Ireland and across Europe in a responsible manner to deliver sustainable housing in line with our existing growth strategy.”
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
