Global real estate investor, developer and manager Round Hill Capital, along with Mubadala Investment Company and Ivanhoé Cambridge, have announced a new strategic partnership to expand their Dutch residential investments strategy.
The partnership will see the three firms target high quality residential investments across the Netherlands, targeting some of the largest cities with a high number of young professionals.
The partnership will build on the seed portfolio compiled to date with the aim of at least doubling the number of homes for rent under management, with Round Hill leading operations to acquire and manage the properties.
Round Hill already 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 firm has also been a significant investor in Dutch residential for the last seven years, establishing a platform that has managed over 16,000 homes.
Across Europe, Round Hill has acquired and managed more than 135,000 residential homes since 2002.
Michael Bickford, founder and CEO of Round Hill, 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 world’s leading institutional investors see the accommodation asset class as a highly attractive and a resilient investment opportunity. Added to that, the Netherlands is a prime location for well-managed, sustainable residential assets.
'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, head of real estate investments at Mubadala Real Estate and Infrastructure Investments, added: '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, concluded: 'For Ivanhoé Cambridge, this partnership is part of our strategy to continue investing in quality sustainable and affordable residential assets in Europe.'