TH Real Estate said on Tuesday that it has provided acquisition financing to Korean investor Samsung SRA Investment Management, for the acquisition of 200 Aldersgate in the City of London.

ashbycapital 200 aldersgate

Ashbycapital 200 Aldersgate

The 434,000 sq ft (40,300 m2) multi-let office building located near London's Farringdon Station was sold in early February by London-based property investment advisory company AshbyCapital for a price believed to be nearly £320 mln (€367 mln).

'This transaction exemplifies the speed of execution we can deliver for a large loan which we will hold to maturity in full,' said Christoph Wagner, director of Debt Strategies at TH Real Estate.

AshbyCapital purchased 200 Aldersgate as its maiden investment in 2013, attracted by its prospects for rental growth. The asset had been put on the market by UK property company Helical Bar through CBRE and Savills for over £200 mln (€230 mln).

During its ownership of the asset, AshbyCapital attracted new retail and office tenants, including Eat and Ford Motor Company, fully leasing the building and achieving rents over £80 per sq ft.

Rent reviews have also been completed on 35% of the building, which is the former London headquarters of law firm Clifford Chance.

Young W. Chai, senior managing director at Samsung SRA, said the deal marks the re-entry of the South Korean investor into the London City office market after disposing of 30 Crown Place in 2016.

'200 Aldersgate, a landmark office building in the revitalizing Farringdon area, offers our Global Core Office Fund #2 investors a compelling opportunity to benefit from longer term growth prospects of London as a global gateway city.'