'ING RE to sell central London office portfolio'

ING Real Estate is believed to be offloading its central London office assets worth over £200 mln (around EUR 250 mln), according to reports by Property Week. The company is reportedly selling 88 Wood Street in the City of London for around £190 mln to US private investment firm Atlantic Property Partners. According to Property Week, the transaction would be the first purchase in Europe by the Boston-based group. ING acquired the building in 2006 for £232 mln.

The magazine reported on Tuesday that ING RE is also selling the Savile Row office building to Kajima Europe, a subsidiary of Japanese property group Kajima, for another £40 mln. A spokesman for Kajima confirmed the deal, but added that it had not yet been made public. ING purchased the asset earlier this year for £51 mln.