Mount Anvil teams up with Ares in €242m London resi jv

Mount Anvil, a specialist residential property developer focussing on Central London, has formed a £200 mln (€242.5 mln) partnership with US investment firm Ares Management to purchase new sites and build more homes in Central London.

The Pears Family, one of the biggest landlords in southeast England, has participated in the refinancing of certain of the existing Mount Anvil facilities. KPMG advised Mount Anvil on the deal.

Commenting on the renewed partnership with Ares, Killian Hurley, CEO of Mount Anvil: 'It gives us even greater fire power as we look to create more, high-quality Central London homes. The addition of The Pears Family adds a reputable financial partner and will further enable us to execute our ambitious business plan.'

Ares Management first teamed up with Mount Anvil in 2010 and the company is rapidly becoming one of the most respected brands in London residential property development, according to Bill Benjamin, senior partner at Ares Management. 'Since 2010, we have been increasingly drawn to the residential market in London due to its attractive demographics, strong demand for housing, and its appeal to investors from around the world.'

In the past four years, Mount Anvil and Ares Management have teamed up on 10 residential projects throughout Central London, including Lexicon and The Eagle on City Road (EC1) as well as The Filaments in Wandsworth (SW18).

Founded in 1991, Mount Anvil has built about 5,000 London homes over the past 23 years.