Ivanhoé Cambridge, Residential Land JV Spends Big in Central London
- Oct 12, 2015
By Adriana Pop, Associate Editor
London, England—For approximately $254 million (£160 million), Ivanhoé Cambridge and its joint venture partner Residential Land have acquired the Hamlet Gardens and 4B Merchant Square, two premier residential rental properties in central London.
Situated in London’s sought-after Ravenscourt Park, Hamlet Gardens comprises four buildings totaling 122 residential units. The property’s previous owner was Swedish investor Akelius.
4B Merchant Square, which consists of 60 residential units, is located close to Paddington Station, with easy access to London’s most renowned landmark parks, restaurants and retail destinations. The partnership purchased the asset from Native Land and Malaysian investor Amcorp.
The completion of these transactions brings the number of multifamily properties the joint venture owns in London to 16.
“These acquisitions further our investment strategy of acquiring quality residential properties in key submarkets of London,” Sylvain Fortier, executive vice president & global CIO, Ivanhoé Cambridge, said. “London remains a very attractive market, especially for this type of high-demand residential product. Our partnership of the last four years with Residential Land is a competitive advantage for our success there.”
Photo credits: Ivanhoé Cambridge