Cortland with Madison to buy 50-story apartment building near Manchester City Center

Cortland, together with Madison International Realty as funding partner, has announced a deal to buy a 50-story build-to-rent (BTR) tower currently under development in Salford, England, part of the Manchester metro area, from Renaker.

Cortland at Colliers Yard will offer 559 one- and two-bedroom apartments with more than 25,000 square feet of amenity space, is already at level 23, and is expected to complete early in 2024.

The glass-clad tower has a three-story brick podium level which will create a neighborhood at street level and will include shops, restaurants, and bars. The scheme will also include the creation of a public park for the benefit of the wider neighborhood.

“Following a smooth and easy transaction with Cortland, we are excited to welcome them to Colliers Yard and the developing Greengate community of Salford. This is an important and exciting further step in the regeneration of the wider Greengate masterplan to deliver an aspirational and new