Invesco expands apartment offering in Prague

Invesco Real Estate has acquired a major residential development in the center of Prague, marking its sixth acquisition for its European Living Fund, which launched in late 2020.

Hagibor will consist of 168 apartments in three buildings with a total area of 14,600 square meters (157,153 square feet), including 420 square meters (4,520 square feet) of leasable commercial space. All of the apartments will be designed to cater to the mid-market segment, with the assets meeting high ESG and sustainability standards. The forward-funding deal is scheduled to reach completion in the second quarter of 2024.

Invesco’s European Living Fund has allocated €300 million ($323 million) in its first 18 months. Other transactions include an investment in a suburb of Copenhagen; a state-of-the-art ESG residential development in Germany; and SeiMilano, one of the most significant residential development projects in Europe.

“With our latest acquisition Hagibor, a prime reside