The joint partnership between Ivanhoé Cambridge, affiliates of Apollo Global Management, LLC, and Residential Land announced that it has successfully acquired Brandeaux Group's interests in the Thurloe Estate in a transaction for approximately £100 million (approx. €120 million).
A second asset called Strathmore Court was acquired in an off-market transaction for approximately £40 million (approx. €48 million). These transactions bring the partnership’s total investments to approximately £430 million.
Sylvain Fortier, Ivanhoe Cambridge’s Executive Vice President, Residential, Hotels and Real Estate Investment Funds, said: “These are strong assets in prime locations that offer great potential for added value. Based on our common expertise and dedication to exceptional properties, we look forward to repositioning the buildings in a true London spirit of quality real estate.”
He added: “These transactions exemplify our platform strategy in key markets of working with companies with expert knowledge of their respective markets in order to make a difference in cities with high barriers to entry. Our partners are playing an invaluable role in helping Ivanhoé Cambridge successfully develop a critical mass of high-quality residential assets in the core of London.”
Source: Headland Consultancy