SEB Asset Management has sold an office building in the City of London financial district on behalf of its SEB ImmoPortfolio Target Return Fund.

SEB Asset Management has sold an office building in the City of London financial district on behalf of its SEB ImmoPortfolio Target Return Fund.

A client of Deutsche Bank paid about EUR 77 mln for One Threadneedle Street, reflecting a net initial yield for the buyer of 4.5%.

SEB AM said extensive renovation work at One Threadneedle Street was completed in July 2012. A month later SEB AM signed a 20-year lease without break options for the entire 5,000 m2 property with Nationwide Building Society.