Round Hill Capital and QuadReal commit €200m for Irish BTR

Round Hill Capital and QuadReal extend partnership with an additional €200m commitment to forward fund the purchase of Build to Rent assets across Ireland.

Carraiglea Build to Rent development, Ireland. Construction is due to be completed in Q3 2024 - Round Hill Capital | QuadReal | BTR News
Carraiglea Build to Rent development, Ireland. Construction is due to be completed in Q3 2024.

Global specialist real estate investor, developer and manager – Round Hill Capital – and QuadReal Property Group, a global real estate investment, operating and developing company announce the expansion of their joint venture partnership in Ireland. The €200m additional commitment will be used to forward fund the purchase of high-quality Build to Rent assets across Ireland, focusing on apartment blocks in the country’s main cities, including Dublin.  

“We are delighted to continue our successful partnership with QuadReal to provide much needed high quality rental opportunities that underpin Ireland’s growing economy. Multifamily 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. We look forward to announcing new transactions under this partnership in the near future.”  

Michael Bickford, Founder and CEO, Round Hill Capital
Carraiglea Build to Rent scheme - Round Hill Capital | QuadReal | BTR News
Carraiglea Build to Rent scheme.

The evolution follows the successful launch of the current partnership in 2018, which has already deployed c.€375m 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 Build to Rent apartments, with construction works expected to be completed for both projects by Q3 2024. The new announcement brings the partnership’s total funding commitment to Irish housing to €575m. 

“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 amenitised housing to a chronically undersupplied market.” 

Jay Kwan, Managing Director, Head of Europe, International Real Estate of QuadReal Property Group
Carraiglea Build to Rent scheme in Ireland - Round Hill Capital | QuadReal | BTR News
Carraiglea Build to Rent scheme in Ireland.

Round Hill Capital has a long and successful 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.   

“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.” 

John Vaudin, Managing Director, Round Hill Capital