In the UK’s largest office purchase, the private equity firm has agreed to link up with German fund manager IVG Asticus to acquire a 50% stake in the Swiss Re’s 30 St Mary Axe headquarters, in the City of London for £600m.
The 50:50 joint venture reflects the fact that both investors wanted to buy the building but were reluctant to splash out £600m by themselves on a single asset.
The joint venture is expected to complete its sale-and-leaseback deal with Swiss Re next week. CB Richard Ellis advises Evans Randall, and advises IVG with Knight Frank. DTZ is advising on the sale of 30 St Mary Axe.
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