London-based integrated real estate firm Cording Real Estate Group has achieved the second deal for its new 400 million pounds ($508.8 million) Cording UK Residential Investment Fund.

The fund, expected to continue injecting in the private rented sector (PRS) on behalf of Continental European investors, will finance a build-to-rent development in Warrington for around $50.8 million.

Cording is to secure a $190.7 million of equity investments from Continental European institutional investors.

Cording UK Residential Investment Fund will have $508.3 million to form a diversified portfolio of PRS assets.