Greystar has acquired the Barking Wharf residential development in East London from Invesco Real Estate.
Completed in 2021, the 595-home build-to-rent community is the latest addition to Greystar’s Momento brand. The asset has a mix of studio, one and two-bedroom apartments across two buildings. The acquisition price was not disclosed.
Greystar said it plans “targeted capital investment in the amenity spaces to ensure the asset continues to meet customer needs and remains one of the most attractive rental communities in the area”.
Ben Mowbray, managing director for UK investment at Greystar, said: “The acquisition of Barking Wharf reflects our ability to identify high-quality opportunities in growth locations and enhance value through targeted investment and operational expertise. This well-located asset will benefit from our proven management platform, creating a best-in-class rental community that delivers an elevated experience for residents and long-term value to the community as part of the ongoing regeneration of Barking and Dagenham.”
The transaction follows the recent launch of Momento Hayes in London and adds to Greystar’s portfolio of Momento communities in Vienna and Berlin.
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