Published on Dec 24, 2013 3:02 PM
Singapore investment firm GIC is buying a multibillion dollar stake in a mega-office complex in London's main financial district, adding to its portfolio of prominent properties globally.
It is acquiring private equity firm Blackstone's 50 per cent interest in Broadgate, in a deal said to be worth over £1.7 billion (S$3.5 billion).
This transaction is believed to be GIC's largest-ever property foray in Europe, and is also its biggest-known investment this year, based on public announcements. Analysts said it is also one of Europe's biggest-ever office deals.
Broadgate is located near Liverpool Street station and is touted as a 'world-class' office complex with a cluster of 17 buildings, shops and restaurants. The development spans 4.7 million sq ft on 12ha of land.
TO READ THE FULL STORY...
Please enable JavaScript to view the comments powered by Disqus.comments powered by
No comments:
Post a Comment