German-based Aberdeen Immobilien KAG (formerly Degi) has sold its King William Street office complex in London to the Scottish Widows SWIP Property Trust for EUR 77 mln. This is the second sale in recent weeks which Aberdeen Immobilien has carried out to help raise the liquidity ratio for the frozen Degi Europa fund.
German-based Aberdeen Immobilien KAG (formerly Degi) has sold its King William Street office complex in London to the Scottish Widows SWIP Property Trust for EUR 77 mln. This is the second sale in recent weeks which Aberdeen Immobilien has carried out to help raise the liquidity ratio for the frozen Degi Europa fund.
Aberdeen Immobilien KAG said that the sales price negotiated for the 12,560-m2 King William Street property matched the most recently appraised market value and that additional properties have been earmarked for sale to generate sufficient liquidity to lift the suspension of share redemptions from Degi Europa.
King Sturge acted as broker on behalf of the seller.
Aberdeen Immobilien KAG, part of Aberdeen Property Investors, sold the 30 Finsbury Square office scheme in the City of London to German fund manager Munich Ergo Asset Management in early April. Sources estimated the investment volume for that deal to be about EUR 115 mln.
