Railpen, the investment manager for the £35bn Railways Pension Scheme, has announced it has entered into a £92m funding deal with real estate specialists Revenue + Capital and developer Fifth Capital to develop 198 build to rent apartments at Trocoll House in Barking.

RPMI Railpen (Railpen), the investment manager for the £30bn railways pension scheme, has acquired the commercial ground rent secured against a hotel next to Gatwick Airport. The former 185-room property is let on a 150-year lease to Axcel Hospitality Group.