Ropes & Gray Advises APG on its JV Investment in New €700 Million Residential Platform in Ireland
Ropes & Gray has advised Dutch pension fund APG Asset Management on expanding its Irish joint venture with the US-based Hines Group to establish a new platform to invest in the development of residential led, mixed use schemes across the greater Dublin area. The parties intend the additional total equity and debt commitments to reach c. €700 million. This residential platform will supplement their existing joint venture investment to develop and hold ‘build-to-rent’ apartments in Cherrywood in south Dublin, bringing the total projected investment in the wider platform to over €1.1 billion.
The Ropes & Gray team – all members of which are based in London - was led by private equity real estate partner David Seymour, with anti-trust partner Ruchit Patel, private equity real estate counsel Will Bryant and anti-trust associate Charlotte Brunsdon.