Invesco Real Estate has completed its first residential investment in France in a forward funding deal.
The acquisition in Bossey, located on the Swiss/French border, has been made on behalf of the firm’s recently launched European Living Fund. The development consists of 115 high-quality, modern and sustainable class A units across a total area of 7,100 square meters (76,400 square feet) set to complete in fourth quarter 2023.
The acquisition increases Invesco’s exposure to the European residential sector, a key strategic growth focus for the firm. Including this latest transaction, the firm’s allocation is now 35 investments consisting of more than 8,310 units spread across nine countries.
Bossey is part of the Genevois Français, a cluster of affluent towns in France near Geneva. More than 45 percent of workers in this area cross the border each day to take advantage of Switzerland’s higher salaries. Bossey’s average annual income per capita is mor
