Invesco Real Estate signs private rented sector deal

Invesco Real Estate has entered into a joint venture focusing on investment in private rented residential properties.

The 580 properties are already built and are in five cities across the South-East and South-West of England.

Invesco’s partner is Platform, a developer and manager of properties in the private rented sector.

The venture will invest £116 million (€136 million) from institutional investors at a time when demand for rented accommodation is outstripping supply, Invesco said.

The firm has been marketing investment in the private rented sector to the Local Government Pension Scheme and hopes schemes will consider the sector as part of their infrastructure investments.

Jean-Marc Vandevivere, CEO of Platform, said: “This deal marks a huge vote of confidence in the UK [private rented sector] and demonstrates there is clear investor appetite for quality, high-spec product outside of major cities with proven asset managers.”

©2017 funds europe

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