U.S. Invesco Real Estate, EcoWorld London ink $495.7 mln BTR deal

U.S. real estate investment manager Invesco Real Estate plans to purchase more than 1,000 build-to-rent (BTR) homes in London representing the entire BTR component of two sites, namely Kew Bridge and Barking Wharf.

The BTR homes will be developed by Malaysian investment holding company Eco World International Bhd’s 70 percent owned joint-venture EcoWorld London in a 389 million pounds ($495.7 million) deal with Invesco.

As part of the deal, EcoWorld London will let and manage the rental homes on behalf of Invesco Real Estate under a long-term contract. Each site forms the initial of a broader development being undertaken by EcoWorld London.

The building work has started on both sites and the new homes will be available to rent from late 2020.