M&G Real Estate is to finance 315 build-to-rent homes in Reading, a town in south east England, reflecting increasing interest in the sector by the asset management industry.
Thames Quarter, a development of one, two and three-bedroom apartments, will be ready for occupation in 2021 and is the latest deal made on behalf of the M&G UK Residential Property Fund managed by Alex Greaves.
M&G has invested around £900 million (€1.03 billion) in 2,600 homes since 2013 and it has plans for further investments in the sector in 2018.
Greaves said Reading was “the next obvious choice” for the expansion of its residential portfolio and reflected its strategy to invest in areas with strong employment and quality infrastructure.
In March Aberdeen Standard Investments launched what it said was the first residential property fund to invest on a pan-European basis.
Watkin Jones will act as developer and contractor with the opportunity acquired from Lochailort.
Campbell Gordon represented M&G Real Estate and CBRE represented Lochailort.
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