Ivanhoe Cambridge has entered into a partnership with affiliates of Apollo Global Management, LLC, and Residential Land, to acquire interests in two multi-residential properties in London, U.K.

The partnership has acquired Brandeaux Group’s interests in Thurloe Estate for approximately £100 million. The group also acquired Strathmore Court in an off-market transaction for approximately £40 million, bringing the partnership’s total investments to approximately £430 million.

“These are strong assets in prime locations that offer great potential for added value,” says Sylvain Fortier, Ivanhoe Cambridge’s executive vice-president of residential, hotels and real estate investment funds. “Based on our common expertise and dedication to exceptional properties, we look forward to repositioning the buildings in a true London spirit of quality real estate.”

Thurloe Estate is comprised of Pond Place, Pelham Court and Thurloe Court, located in West London’s Chelsea area. The properties consist of 11,850 square metres of residential and retail space, including 141 flats and a retail parade of 18 shops. Located on Fulham Road, the estates are close to the South Kensington and Sloane Square underground stations.

“The Thurloe Estate is an attractive addition to our partnership’s growing portfolio of high-quality residential properties in Central London. In addition, the strong roster of retail tenants adds value to the property,” says Roger Orf, a partner of Apollo Global Management and head of Apollo’s real estate business in Europe.

The six-storey Strathmore Court consists of 21 residential units and 10 retail units. It is located opposite Regent’s Park. The partnership has committed to renovating and refurbishing the property.