Invesco Real Estate has agreed to forward fund 383 flats in Liverpool for £86m.
Patten Properties and Panacea Property Development bought 21 Strand Street in 2017 and have since gained planning permission.
John German, senior director, residential investments at Invesco, said: “This brings to 646 the number of units we now have under construction in the UK’s North West.
“This not only means we are diversifying our portfolio of assets within our fund but are also excited about the opportunity to provide a ‘best in market’ residential product for today’s rental market in one of the UK’s major regional cities.”
Invesco’s will hold the assets in its dedicated UK residential strategy. It has 10 assets in its UK fund, representing 1,689 units for a total investment of £426m. 1,109 are under construction.
To send feedback, e-mail alex.peace@egi.co.uk or tweet @egalexpeace or @estatesgazette
