Singapore-based ARA Asset Management is reportedly on the verge of finalising the acquisition of Canada Pension Plan Investment Board’s 50% stake in the Nova development in London’s Victoria district for £435 mln (€480 mln).
According to a news report by Costar, Ara and CPPIB revived the deal last month after the sale collapsed earlier this year as a result of the coronavirus pandemic.
Nova is a complex of offices, restaurants and stores in London’s Victoria district that CPPIB owns in a venture with Land Securities.
