Invesco Real Estate is to develop a 261-bed purpose-built student accommodation (PBSA) asset in the northwest of England via a partnership with developer Alumno Group.
Set to complete in the third quarter of 2026, the development site in Manchester has been acquired on behalf of Invesco Real Estate Europe Fund III (Europe III), the manager’s third European value-add strategy.
The 50,000 square feet property will comprise 207 cluster beds, of which 52 will be affordable, and 54 studios.
Source: realassets.ipe on the 4th of July, 2024