Liberty International unit Capital & Counties (CapCo) and Great Portland Estates (GPE) said today that they had agreed to form a central London property joint venture The Great Capital Partnership. The new venture will own, manage and develop central London properties and begins with a portfolio of more than 78,967 m[sup]2[/sup] of commercial space valued at £ 460 mln (EUR 678 mln).
Liberty International unit Capital & Counties (CapCo) and Great Portland Estates (GPE) said today that they had agreed to form a central London property joint venture The Great Capital Partnership. The new venture will own, manage and develop central London properties and begins with a portfolio of more than 78,967 m2 of commercial space valued at £ 460 mln (EUR 678 mln).
CapCo will put in £ 299 mln of London property with net rental income of £ 13.7 mln a year. GPE will contribute £ 162 mln worth of property with net rent of £ 7.4 mln a year.