L&G acquires Manchester BTR tower
Legal & General Investment Management – Real Assets (LGIM Real Assets) has acquired the new build-to-rent North Tower in Deansgate Square, Manchester.
The acquisition has been made on behalf of its two largest balance funds, the UK Property Fund and the Management Fund.
The tower comprises 276 luxury apartments, ranging from one, two and three bedrooms across 37 storeys. The tower’s amenities include a two-storey gym, a 20m swimming pool, a sauna, a steam room, fitness studios and an indoor sports hall.
The building was acquired from developer Renaker. CBRE advised on the transaction …