Enpam has completed the purchase of a 50% stake in Amazon’s new London headquarters from Brookfield Property Partners.
The Italian pension fund for doctors and dentists is investing in Principal Place through Italian real estate investment manager Antirion SGR.
Brookfield Property Partners said the 621,000sqft building, which will be occupied by Amazon next year, is worth £763m (€886m).
The building is part of a mixed-use complex, including a 50-storey residential tower and 20,000sqft of retail space.
Giorgio Pieralli, Antirion SGR chief executive, said: “Diversifying our investment portfolio into a primary foreign market such as London has been a strategic priority for Antirion in the last couple of years.
“Principal Place, with its unique features and huge potential, represents an opportunity that perfectly matches our needs and expectations.”
Martin Jepson, president and chief operating officer of Brookfield’s UK office division, said the firm sees healthy demand from investment partners in core, stabilised office properties in major markets.
The sale of the stake to Antirion is part of Brookfield’s ongoing capital recycling initiative, Jepson said.
Brookfield instructed GM Real Estate and Eastdil Secured to sell a half share in the asset in late 2015, according to previous media reports.
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