An Asian institutional investor has acquired the office building at 30 Gresham Street in the City of London from an Asian sovereign wealth fund, PropertyEU can reveal.
An Asian institutional investor has acquired the office building at 30 Gresham Street in the City of London from an Asian sovereign wealth fund, PropertyEU can reveal.
According to sources consulted by PropertyEU, Korea's Samsung Asset Management has exchanged on the prominent City of London property for an estimated £310 mln (€360 mln). The deal marks the company’s debut in the London office market.
The property, which is fully leased to Commerzbank until 2028 and serves as its headquarters, was acquired from Singapore’s GIC.
The transaction was carried out for Samsung AM by Deutsche Asset & Wealth Management’s real estate investment business (formerly RREEF Real Estate).
Completed in 2004, 30 Gresham Street occupies a 1.38 acre site comprising 37,421 m2 of Grade A office and retail space as well as 48 parking spaces.
