Brookfield Asset Management has acquired the Nexus Place office asset in London for £169.4m (€201m).

Announcing the deal, Barings said it has sold the fully-let property is located at 25 Farringdon Street to Brookfield. The asset provides 159,840sqft of office space with ancillary retail space.

Barings acquired the building in 2013 for £128m and has since undertaken a number of value-add asset management initiatives.

Darren Hutchinson, head of UK real estate transactions at Barings, said: “Nexus Place is an example of our ability to create value by implementing a number of asset management initiatives and deliver a strong return for our clients.

“With our business plan now complete we are looking to recycle the capital into alternative strategies.”