SEB Asset Management announced on Monday that it has acquired the Condor House office building in the City of London for its open-ended SEB ImmoPortfolio Target Return fund. The vendor is Evans Randall Group and the total investment costs come to EUR 134.3 mln.

SEB Asset Management announced on Monday that it has acquired the Condor House office building in the City of London for its open-ended SEB ImmoPortfolio Target Return fund. The vendor is Evans Randall Group and the total investment costs come to EUR 134.3 mln.

Condor House was fully renovated in 2005 and has total rental space of 12,221 m2 spread out over eight floors. The building is let on a long-term basis. The main tenants of the office space in the upper storeys include the law firms Morgan Lewis & Bockius and Shepherd & Wedderburn, financial services provider Barclays Bank, property developer Skanska Infrastructure Development UK and the investment bank Moelis & Company UK.

The retail space on the ground floor is leased to several restaurant operators, including Gourmet Burger, Café Rouge, Yo Sushi and Pizza Express.

The acquisition of Condor House has expanded SEB ImmoPortfolio Target Return Fund's portfolio to a total of 44 properties in 12 countries.