Round Hill Capital, Mubadala Investment Company and Ivanhoé Cambridge announce new partnership to invest in residential assets in the Netherlands
Round Hill Capital, a leading global real estate investor, developer and manager, along with Mubadala Investment Company and Ivanhoé Cambridge, have today announced a new strategic partnership to expand their Dutch Residential Investments strategy.
The new partnership will see Round Hill Capital, Mubadala and Ivanhoé Cambridge use their combined expertise in global real estate investment to target high quality residential investments with an attractive risk adjusted return profile across the Netherlands. The partnership will build on the seed portfolio built to date with the aim of at least doubling the number of homes for rent under management. The partnership will target some of the largest Dutch cities with a high number of young professionals and families looking to take their first steps up the property ladder, but who are unable to do so because of local supply/demand imbalances.
Round Hill Capital will lead operations; acquiring and managing properties across the Netherlands, with a focus on well located and well-designed residential assets that promote affordable, sustainable lifestyles for local communities.
The announcement reflects Round Hill Capital’s commitment to the Dutch residential market and builds on the success of its 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.
Round Hill Capital has been a significant investor in the Netherlands for seven years, successfully establishing a robust residential investment, development asset and property management platform that has managed over 16,000 homes. Across Europe, Round Hill Capital has acquired and managed more than 135,000 residential homes since 2002.
Commenting on the new partnership, 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 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. Ivanhoé Cambridge’s residential assets represents C$12B globally.
We are pleased to build on our existing relationship with Round Hill Capital and work alongside Mubadala, on this residential investment partnership in the Netherlands. At Ivanhoé Cambridge, we invest with conviction to have a lasting impact in the communities where we are present. Being a long-term investor, ESG is an integral part of our strategy and we have a strong objective of improving affordable housing offerings. 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.”
About Round Hill Capital
Round Hill Capital is a leading global specialist real estate investment, development and asset management firm. Since inception in 2002, Round Hill Capital has acquired and repositioned for long-term institutional ownership over 135,000 residential units and student housing beds. Round Hill Capital is a responsible landlord of assets offering housing to a range of occupants, from students through to senior citizens. Round Hill Capital has an established track record of positive returns and invests in and asset manages real estate on behalf of some of the world’s leading institutions and private investors. Further information on Round Hill Capital is available at: www.roundhillcapital.com.
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
For more information about Mubadala Investment Company, please visit: www.mubadala.com.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint. Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60.4 billion in real estate assets as at December 31, 2020 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec. For more information about Ivanhoé Cambridge, please visit: www.Ivanhoécambridge.com.
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