Round Hill Capital, Ivanhoé Cambridge, and Mubadala Investment Company have created a Dutch residential real estate investment partnership.
The partnership, established to expand the trio’s respective businesses’ residential strategies in the Netherlands, will build on a seed portfolio put together by the newly-created strategy.
The strategy will focus on acquiring residential assets which are both sustainable and affordable with an attractive risk-adjusted return, the companies said in a joint statement.
Round Hill – which has invested in the Netherlands for seven years – will lead the partnership’s operations by acquiring and managing the properties across the country.
Round Hill has an existing joint venture with Mubadala, which saw the acquisition in 2020 of a portfolio of 821 affordable residential homes for rent in city centre locations. The manager also has a Berlin residential investment partnership with Ivanhoé Cambridge.
Michael Bickford, founder and CEO of Round Hill Capital, said: “We are delighted to broaden our relationship with Ivanhoe Cambridge and add them as a key strategic partner alongside Mubadala in our Dutch residential investment strategy.”
The Netherlands is a prime location for well-managed, sustainable residential assets, he said.
“We have an active pipeline of opportunities and the operational expertise to deliver quality housing to residents. We look forward to working with our partners to address demand in the Dutch market.”
Michael Campbell, the head of real estate investments at Mubadala real estate and infrastructure investments, said: “Mubadala remains committed to investing in sustainable residential opportunities globally, with a long term view to providing sustainable and affordable housing that also allows people to comfortably explore the new normal of flexible working alternatives.
“Within this context, we are excited to join Round Hill Capital and Ivanhoe Cambridge in this Dutch affordable housing venture to enable us to deliver on our strategic and financial objectives.”
Charles-Antoine Lussier, senior vice president, residential and hotels at Ivanhoé Cambridge, said: “For Ivanhoé Cambridge, this partnership is part of our strategy to continue investing in quality sustainable and affordable residential assets in Europe.”
Ivanhoé Cambridge’s residential assets are worth C$12bn (€8.1bn) globally.
“Our residential portfolio is diversified, and we wish to continue to seek to complement the affordable housing supply in the markets in which we invest. We believe this strategic partnership will help us meet this objective,” Lussier said.
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