Round Hill and QuadReal to invest further €200m in build-to-rent sector

London-based real-estate group Round Hill Capital and its partner QuadReal are to invest a further €200 million in Ireland’s build-to-rent sector.

“The latest agreement demonstrates the ongoing appeal of the build-to-rent sector to the investment community,” Round Hill said.

The additional funding brings the partnership’s total target investment in the sector here to €575 million.

International investors have flooded into the Irish property market in recent years, enticed by the relatively high rental yields.

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Round Hill said the additional funds would be used to forward fund the purchase of rental assets across Ireland, focusing on apartment blocks in the country's main cities, including Dublin.

The partnership has deployed about €375 million in rental assets across Dublin. This includes the acquisitions of the Bridgefield development in Dublin in 2018, the Blackwood Square development in Dublin in 2020 and Carriglea on the Naas Road in 2021, delivering a total of 868 apartments for private rent.

Strategy

"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," John Vaudin, managing director of Round Hill Capital, said.

“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,” he said.

Michael Bickford, founder and chief executive of Round Hill Capital, said: "Multi-family 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,” he added.