Norges Bank Real Estate Management (NBREM) has announced the acquisition of a Central London office property occupied by Amazon for £321 mln (€362 mln).
NBREM, which manages Norway’s sovereign wealth fund, has bought the Sixty London property located on 60 Holborn Viaduct from VGV Immobilienfonds II, a fund managed by Union Investment Institutional Property.
NBREM said the asset is unencumbered by debt, and no financing was involved in the transaction.
Sixty London was acquired in 2014 by real estate investment firm Hines on behalf of the German fund VGV.
The 12-storey building, comprising 219,000 sq ft (20,345 m2) of office space entirely occupied by Amazon, and 17,000 sq ft of retail space.
Peter Epping, a senior managing director responsible for the VGV fund at Hines, said: 'This is a high-quality, flagship asset which has performed exceptionally well for our investors, for whom the timing felt right to sell given the outperformance of the initial targets for this investment.'
