UK asset manager Beltane has completed the purchase of a 9,300 m2 office block in London in a joint venture with affiliates of Angelo, Gordon & Co.
UK asset manager Beltane has completed the purchase of a 9,300 m2 office block in London in a joint venture with affiliates of Angelo, Gordon & Co.
The five-storey building at 42 Southwark Road was acquired from M&G Real Estate in an off-market transaction. Financial details were not disclosed but the purchase price is understood to be around £50 mln (€67.6 mln).
The property, which occupies a 0.25 ha corner site 400m south of the River Thames, comprises a sub-basement, basement, ground and five upper floors, and is let to Sunguard Availability Services until January 2018.
Beltane co-founding partner Jonathan Chenery said: 'This is an area we have been interested in for some time and to acquire a property of this size and potential is very exciting.'
Angelo, Gordon & Co is a privately-held investment advisory firm based in New York and specialising in alternative investments, with $27 bn (€24 bn) of assets under management.
