July 27, 2009 by okaloosamls
CNBC-Reported that aviva is to launch a 1.7 billion dollar investment fund.
British insurer Aviva (AV.L) will launch a new 1 billion pound investment fund to buy and rent out new residential property along with two partners, according to the Financial Times.
The report said Aviva, would launch the fund with property consultants being CB Richard Ellis and an unnamed major U.S. residential manager.
The venture would pre-order purpose-built residential blocks in the southeast to rent out, mainly around large transport hubs and significant regeneration sites that have stalled due to the economic downturn, the Financial Times reported.
"We feel the economics are right given where the market is heading. There is appetite for renting that hasn't been there before," the Financial Times quoted Aviva's head of UK specialist property, Andrew Appleyard.
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