Invesco Real Estate is forward funding an outer London residential scheme.
East Tower, a build-to-rent project in Sutton, will include 180 units and be completed by July next year.
Invesco said London-based developer CNM Estates is behind the scheme, which will include one, two and three-bedroom apartments.
John German, senior director of residential investments at Invesco, said the scheme, part of the wider Sutton Point project, is tailored to the local rental market and is expected to attract sharers, young professionals and young families.
”There is strong tenant demand for build-to-rent in this location, given limited availability of rental units,” he said.
Invesco recently invested £116m (€134m) in a portfolio of 580 residential units with Westrock’s PLATFORM_ brand in the UK.
The manager made its first UK private-rented sector debut, buying 118 PRS units for £32.5m in Hayes, in May 2014.