Ivanhoé Cambridge, Apollo build out London residential holdings

An international partnership featuring Canada's Ivanhoé Cambridge and US firm Apollo Global Management has increased its capital commitment in London's prime residential sector to €520 mln after completing two new acquisitions.

The total investment volume for the two transactions in West London came to £140 mln (€169 mln).

In the largest of the two, UK-based Residential Land - the third member of the partnership - arranged the investment of £100 mln (€121 mln) to acquire Brandeaux Group's interests in the Thurloe Estate.

The estate in the Chelsea district of the UK capital comprises Pond Place, Pelham Court and Thurloe Court, totalling 11,850 m2 of prime residential and retail space. The Thurloe Estate is located on the Fulham Road, in the highly-sought-after Brompton Cross area of Chelsea, a close walk to both South Kensington and Sloane Square underground stations. The estate includes 141 flats and a number of anchor tenants such as Ralph Lauren and OKA, across the retail parade of 18 shops.

Brandeaux Group announced in late 2013 that on the insistence of its investors it was liquidating six of its suspended funds that had about £1bn of assets under management. The funds invested in residential ground rents and reversionary properties throughout the UK.

The partnership between Ivanhoé Cambridge, affiliates of Apollo Global Management and Residential Land also acquired Strathmore Court in an off-market transaction. The investment volume came to £40 mln (€48 mln)

Located at 143 Park Road, opposite Regent’s Park, Strathmore Court offers 21 residential units over 3,700 m2 of space on six storeys and 10 retail units totalling just under 460 m2. The partners have committed to investing capital to renovate and refurbish the property. These transactions bring the partnership's total investments to about €520 mln.