UK investor Crosstree Real Estate Partners has acquired London-focused premium serviced office business Argyll from Alpine Grove Partners and The Baupost Group for an unspecified amount.
Argyll provides a range of flexible workspaces at 25 office locations, including private offices and co-working. The company owns 10 of the assets directly.
Nick Lyle, founding partner at Crosstree, said: “We are excited to acquire a market-leading platform underpinned by best-in-class prime assets with a proven ability to operate through a number of office market cycles.
“We look forward to working with the experienced management team to grow the business against the backdrop of a central London prime office market that has recovered strongly since the end of the pandemic. We expect continued strong momentum for prime offices driven by further flight to quality by occupiers and limited new supply.”
Crosstree invests in various types of real estate and its London portfolio includes offices, retail and leisure space, hotels and residential developments.
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