Real EstateNovember 28, 2018

​Dillon Eustace advises Round Hill Capital on their first Build-to-Rent scheme in Ireland

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Dillon Eustace advises Round Hill Capital on 216 apartment joint venture acquisition and firm’s first Build-to-Rent scheme in Ireland

Dillon Eustace acted as advisers to Round Hill Capital, a leading real estate investment, development and asset management firm, in a 216-apartment build-to-rent residential scheme in Santry, North Dublin. Together with QuadReal Property Group, its new joint venture partner, Round Hill Capital established an Irish Collective Asset-management Vehicle (ICAV) for the forward purchase of the 216 apartments. This represents the joint venture’s first build-to-rent investment in Ireland as part of its wider Irish residential strategy.

Providing a one-stop-shop for Round Hill Capital, Dillon Eustace advised on all Irish aspects of the deal, from ICAV establishment and Central Bank authorisation, to the negotiation and completion of the property documents for the development and purchase of the apartments.

The advisory team at Dillon Eustace was led by Derbhil O’Riordan, Financial Services Partner, and Kelly O’Hara, Partner and Head of Dillon Eustace’s Real Estate Team, with assistance from Brendan Cunnane (Senior Associate, Real Estate) and Daniel Clifford (Solicitor, Asset Management and Investment Funds).

Derbhil O’Riordan, Financial Services Partner at Dillon Eustace said: “We were delighted to have advised Round Hill Capital on this deal in Ireland which utilised the firm’s strengths in Funds, Regulatory and Real Estate to set up the joint venture property ICAV and to complete the transaction documents so that we were able to advise our client on all aspects of this deal.”

Kelly O’Hara, Head of Real Estate at Dillon Eustace commented: “Our real estate practice at Dillon Eustace covers a broad range of commercial property matters and we are proud to have assisted in the first build-to-rent investment deal in Ireland for Round Hill Capital. We look forward to Round Hill Capital’s further expansion in the build-to-rent sector.”

John Vaudin, Managing Director Round Hill Capital, Ireland, said: “We were delighted with the comprehensive and expert advice provided by Dillon Eustace who helped support Round Hill Capital through this transaction from inception to completion. 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.”