US-based investment firm Round Hill Capital is to purchase a build-to-rent apartment complex consisting of 216 units in Santry, north Dublin, in a joint venture with QuadReal Property Group of Canada.

The joint venture partners set up an Irish Collective Asset-management Vehicle to purchase the 216 apartments, their first build-to-rent investment in Ireland.

Law firm Dillon Eustace acted as advisers to Round Hill in relation to ICAV establishment and Central Bank authorisation, and negotiation and completion of the property documents for the development and purchase of the apartments.

Dillon Eustace financial services partner Derbhil O’Riordan said: “We were delighted to have advised Round Hill Capital on this deal in Ireland which utilised the firm’s strengths to set up the joint venture property ICAV and to complete the transaction documents so that we were able to offer our client a one stop shop service on all aspects of this deal.”

Round Hill managing director John Vaudin added: “Round Hill Capital has extensive international expertise in successfully investing in and operating residential and student housing for the long-term, and with our €1 billion of committed capital to deploy in Ireland, we will help to deliver much needed housing.”

In Association with

The Round Hill group has acquired, built and managed over 110,000 residential and student housing beds in recent years and at present operates around 65,000 accommodation beds in eight European countries. Round Hill’s approach includes acquiring existing assets, developing new purpose-built assets, forward-funding and repositioning assets.

It says it has invested more than €7 billion in European real estate assets since its inception in 2002.