German investor Bayerische Versorgungskammer (BVK) has acquired the 17,000-m[sup]2[/sup] office property Centrium in London for about £128 mln (EUR 147 mln) from US real estate investor Tishman Speyer, Thomas Daily has reported. The transaction price, which was settled in cash, corresponds to an initial net yield of about 7.25%.
German investor Bayerische Versorgungskammer (BVK) has acquired the 17,000-m2 office property Centrium in London for about £128 mln (EUR 147 mln) from US real estate investor Tishman Speyer, Thomas Daily has reported. The transaction price, which was settled in cash, corresponds to an initial net yield of about 7.25%.
The BVK - Bavarian Insurance Chamber - acquired the property for its GLL BVK international real estate fund. The property is fully leased.
This is the second major deal in London for BVK this year. In the spring, it acquired Governor' s House in London for £70 mln (EUR 80 mln).
