UK local government pension scheme Greater Manchester Pension Fund (GMPF) has partnered with a Moorfield Group-managed real estate fund to develop a £120 million (€138.5 million) UK build-to-rent (BTR) asset.
GMPF and Moorfield Real Estate Fund V have agreed to develop, own and operate the 440-home Podium asset in Trafford, Greater Manchester.
The investment by GMPF into Podium has been completed through the Greater Manchester Property Venture Fund, which is advised by CBRE.
Developer Glenbrook and main contractor Domis Construction are delivering the Podium scheme, with the first phase expected to be completed in the second quarter of 2026.
The latest venture represents Moorfield’s third BTR investment in Manchester, following the sale of its previous assets, The Trilogy and Duet, in 2021 and 2022.
GMPF has also been active in the region. Its notable commitments include a £100 million investment in Legal & General’s affordable housing fund and a joint venture with Manchester City Council’s housing company, This City.
Source: realassets.ipe.com on the 1 September 2025
https://realassets.ipe.com/news/greater-manchester-pension-and-moorfield-to-fund-120m-uk-housing/10132385.article