Mount Anvil, Central London’s specialist residential property developer, today announced it has formed a £200 million partnership with leading global alternative asset manager Ares Management to purchase new sites and build more, much-needed homes in Central London. The Pears Family has participated in the refinancing of certain of the existing Mount Anvil facilities.
Founded in 1991, award-winning, owner-managed Mount Anvil has built around 5,000 London homes.
Killian Hurley, Chief Executive, Mount Anvil, said: "This agreement shows a real vote of confidence in the Mount Anvil brand and team, and gives us even greater fire-power as we look to create more, high-quality Central London homes.
"The decision to continue our relationship with Ares reflects the close alignment of our values, the trust we’ve developed over the past four years and Ares’ track record of adding value to our business. The addition of The Pears Family adds a reputable financial partner and will further enable us to execute our ambitious business plan."
Bill Benjamin, Senior Partner, Ares Management, said: "With a history of delivering high-quality homes and a proven track-record of profitability, we’re delighted to continue our partnership with Mount Anvil, which is rapidly becoming one of the most respected brands in London residential property development. 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."
Jonathan Rose, Group Managing Director, Pears Property, said: "Our decision to invest in Mount Anvil reflects our confidence in the business that Mount Anvil and ARES have built over the years. We are delighted to add our financial backing to the group."
Since 2010, Mount Anvil and Ares Management have partnered on 10 residential projects throughout Central London, including Lexicon and The Eagle on City Road (EC1) as well as The Filaments in Wandsworth (SW18).
KPMG advised Mount Anvil on the deal.