Malaysian pension fund Kumpulan Wang Persaraan (KWAP) has pulled out of the acquisition of a trophy office building in the City of London, according to UK press reports.
Malaysian pension fund Kumpulan Wang Persaraan (KWAP) has pulled out of the acquisition of a trophy office building in the City of London, according to UK press reports.
KWAP, which was being advised by RREEF on the sale, agreed a deal in August to buy 5 Aldermanbury Square for £225 mln (EUR 362 mln).
Scottish Widows Investment Partnership and US pension fund, Teachers Insurance and Annuity Association of America, joint owners of the building, have now gone back to the market.
The deal would have been KWAP's second property investment in the City this year following the purchase of 10 Gresham Street, EC2, for £200 mln.
