Invesco forward funds 294-flat BTR scheme

Invesco Real Estate has forward funded a 294-flat build-to-rent scheme in Milton Keynes, Buckinghamshire, for £73.8m. Aubrey Place is being developed by Packaged Living and will be delivered in 2022. It will include around 2,500 sq ft of commercial space and 83 car parking spaces. John German, managing director, residential investments at Invesco, said: “This asset is tailored to the local rental market and we expect it to attract young, highly educated and career-driven residents. “There is strong tenant demand for BTR in this location, given the limited availability of good-quality residential development in the immediate area.” Invesco Real Estate also recently entered into the Birmingham BTR market, completing a £98m forward-funding deal to deliver 483 homes in the city centre last July. The US investment management firm has exchanged contracts with the High Street Group to acquire the homes, which are expected to be operated by Greystar. To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette