FG and Valesco complete on £248m Cannon Bridge House buy

Cannon bridge house fg valesco

Seoul-headquartered FG Asset Management and Valesco Group have exchanged contracts on the joint venture acquisition of Cannon Bridge House ‎in the City of London for £248m.

The duo were backed by South Korean investors Mirae Asset Daewoo, making its UK debut, and NH Investments & Securities. The building was sold by real estate funds managed by Blackstone and the purchase price reflects a net initial yield of 5.2%.

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