Fiera Real Estate is to fund the development for a 350-home build-to-rent scheme in Manchester.
The firm has acquired a 0.7 acre site on Heyrod Street for £6m alongside BTR developer Packaged Living.
This purchase is one of a number of acquisitions that make up the first close of Fiera Real Estate Opportunity Fund V UK, the latest fund in its series with CBRE Global Investment Partners.
Packaged Living will develop a purpose-designed BTR scheme delivering circa 350 rental homes with a mix of studio, one, two and three bedrooms.
Packaged Living is hoping to submit a planning application later in 2020 and to start on site next year.
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