Invesco completes £98m Birmingham BTR buy

Invesco Real Estate has completed its £98m forward funding deal to acquire the build-to-rent development at Birmingham’s Holloway Head. In July, EG revealed the fund had exchanged contracts to acquire the 484-apartment scheme in Birmingham City Centre. The deal has now completed, and construction of the 17-storey tower in the first phase is expected to begin later this year. John German, managing director of residential investments at Invesco Real Estate, said: “Birmingham is our third major UK regional city of investment following our commitments in Liverpool and Manchester. Adding Birmingham to our growing portfolio is a great next step due to its positive market outlook, growing reputation as a business destination and positive rental growth outlook.” Holloway Head is Invesco’s twelfth asset in its UK Residential Fund. The acquisition brings its assets under management to around £580m, with approximately 2,279 units. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette