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Sign in Sign up for a FREE subscriptionAviva launches JV with Moda Living to build 1,000 build-to-rent apartments in Birmingham, U.K.
Aviva Capital Partners (ACP), Aviva’s capital unit investing in real estate and infrastructure projects, has entered into a joint venture with Moda Living, a developer and operator of rental communities in the United Kingdom.
The partnership will invest in a four-acre regeneration site in Digbeth, Birmingham, for 1,000 build-to-rent apartments with a gross development value (GDV) of £400 million (€468 million/$507 million)
The site was purchased from Gallagher Developments and Court Collaboration.
The proposed scheme in Digbeth will support the regeneration of this central part of Birmingham, providing purpose-built, high-quality, sustainable housing. The brownfield site, to be called Stone Yard, is only a short walk from Birmingham New Street train station and will be close to both the forthcoming HS2 station and where the BBC is making its new Midlands base, The Tea Factory.
The homes will be delivered and operated for the long term by Moda Living
