Private equity firm Evans Randall Investors has completed the sale of Riverbank House, the London headquarters of investment manager Man Group, for close to £400 mln (€457 mln).
The buyer is a client of Oxygene Asset Management. The transaction reflects a yield of 3.9%.
The 320,000 sq ft (29,750 m2) scheme in the City of London was forward-funded in 2006 by Evans Randall Investors on behalf of tenant Man Group, the world's largest listed hedge fund manager.
Designed by David Walker Architects and EPR, the riverside building provides some of the largest open-plan offices in the Square Mile. It boasts an overall headline rent of more than £60 per sq ft.
The deal was first reported by UK magazine PropertyWeek. Evans Randall did not comment on the deal.
