Invesco Real Estate has added a wooden-built German development to its open-ended European residential real estate fund.
The manager said its Invesco European Living Fund has acquired the residential development from developer Quartiersmanufaktur in a forward-funding deal. Financial details were undisclosed.
The development in Mannheim, situated in the Rhine-Neckar metropolitan region, will consist of two separate buildings - Spinelli and Flairwood - with a total lettable area of 5,000sqm, including 480sqm of commercial space.
In total, the two buildings, constructed from sustainable wood, will have 45 apartments, with 22 positioned as shared living spaces.
You can read the full press release now at the link below