King Street Real Estate and Arax Properties have competed on their £300m purchase of Alban Gate office in the City of London from Blackstone.
The 22-storey, 382,000 sq ft Grade A office is fully leased and located close to Farringdon, Moorgate, St. Paul’s and Barbican stations.
Partner of King Street Capital Management, David Walch: “We are excited to have completed the purchase of Alban Gate, a fully-leased office building in an attractive location, and look forward to working alongside our trusted partner in Arax.”
Partner at Arax Properties, Giles Morse added: “Alban Gate is a notable London landmark in a prime location, offering impressive, flexible office space and with an excellent leasing track record. We believe this location will benefit significantly from infrastructure and local environment improvements over the life of our business plan.”
CBRE and Knight Frank advised Blackstone. King Street Real Estate and Arax were advised by Ropes & Gray.