UK REIT Hammerson has finalised the sale of a £518 mln (€605 mln) office package to Brookfield Office Properties.
UK REIT Hammerson has finalised the sale of a £518 mln (€605 mln) office package to Brookfield Office Properties.
Hammerson announced in July last year that it was to sell the bulk of its office portfolio to US group Brookfield in a deal reflecting a yield of 5.2%.
The company received a first payment of £329 mln in September 2012 and has now received the second and final payment of £189 mln.
The transaction involves a total of six assets including 99 Bishopsgate; a 50% stake in 125 Old Broad Street; Leadenhall Court; and the commercial and residential development site Principal Place.
Brookfield Office Properties is a Canadian-American commercial real estate company with headquarters operations in New York City and Toronto. The company is 50% owned by Brookfield Asset Management.
