German investor Deka Immobilien has closed on the Verde office building in London Victoria for a reported £460 mln (€515 mln).
The vendors are Tishman Speyer and the Public Sector Pension Investment Board (PSP Investments).
The investment is being made as a joint venture between Deka's open-ended real estate funds WestInvest ImmoValue, a special fund aimed at institutional investors, and Deka-ImmobilienEuropa. The deal was initially agreed this summer.
The office building was originally built in 1995 and comprehensively redeveloped in 2017. Victoria Station is located around 100 metres away from the property.
Verde has a lettable area of almost 30,000 m2 and is leased to 17 institutional tenants on a long-term basis.
The building has been certified BREEAM Excellent.
Eastdil Secured acted for the vendor.
