Round Hill, SFO form new JV to target Irish single-family rental market

Round Hill Capital has announced a new joint venture with London-based SFO Capital Partners to target the 'Single-Family Rental' market across Ireland.

The newly formed joint venture is set to complete two major deals in Q1/Q2 2021 in Dublin, and intends to build on these over the coming years to expand its housing strategy across Ireland.

‘The venture will have the ability to operate swiftly and effectively to secure high-quality SFR investments, providing much-needed new homes to address the long-standing supply / demand imbalance that continues to prevail in the Irish residential market,’ said Michael Bickford, founder and CEO at Round Hill Capital.

Demand for quality, affordable rental accommodation continues to outstrip supply in the country, with only 21,000 dwellings constructed across the country in 2019, well below the estimated 35,000 new homes needed per annum.
Bickford: ‘The counter-cyclical nature of the rental housing market means it is resilient to market cycles, as has been proven amid the economic uncertainties caused by the Covid-19 pandemic.’

He added: ‘We have a strong pipeline in place to meet demand from institutional investors for resilient, long-term investment opportunities and a trusted partner with a strong track record in successfully investing in, developing and operating residential assets. We look forward to further expanding our portfolio in Ireland, as well as across Europe and the US.’

Mohamad Abouchalbak, CEO at SFO Capital Partners, said: ‘We are thrilled to enter into this joint venture with Round Hill Capital with a focus on Dublin, a city with robust macroeconomic fundamentals, dynamic demographics, and a clear growth outlook. This Venture marks a key milestone in the expansion of our residential investment programme from the USA into Europe.’


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