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Invesco to forward-fund residential development in Birmingham, England
Transactions - SEPTEMBER 13, 2019

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Invesco to forward-fund residential development in Birmingham, England

by Kali Persall

Invesco Real Estate has agreed to back a residential development in the city center of Birmingham, England, through a £98 million ($120 million) forward-funding investment, according to media sources.

The property marks Invesco’s 12th asset in its U.K. Residential Fund, bringing the firm’s total assets under management to €650.9 million ($802 million) and 2,279 units across the United Kingdom.

“Birmingham is our third major U.K. regional city of investment following our commitments in Liverpool and Manchester,” said John German, managing director of residential investments at Invesco Real Estate. “Adding Birmingham to our growing portfolio is a great next step due to its positive market outlook, a growing reputation as a business destination and positive rental growth outlook.

He added, “As with all of our development projects, we’re excited about the opportunity to provide ‘best in market’ residential product for today’s rental market wit

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