Commerz Real has sold the Paternoster Square office and commercial building in London to a consortium comprising CLI Dartriver and unspecified European family offices.
Commerz Real said it sold the fully-leased 1,897sqm asset, which was held within its open-ended real estate fund Hausinvest, but did not disclose the price.
Maja Procz, global head of transactions at Commerz Real, said the favourable market conditions for well-located properties allowed the firm to “achieve a very good result for our investors”.
Following the sale, the Hausinvest fund still has exposure to the UK. The largest property in its portfolio is the 250,000sqm Westfield London shopping mall.
In addition, the fund owns Paternoster House and the 180 Great Portland Street office and retail properties in London. It also owns the Mann Island office building in Liverpool and the Victoria Square shopping centre in Belfast.
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