HSBC GAM agrees to two new property deals worth $262m

HSBC Global Asset Management has completed the sale of 1625 Eye Street in Washington, D.C., for $262 million. The class A property, located near the White House, has undergone a significant renovation program since it was acquired in 2009.

The property was offered to the clients of HSBC Private Banking as part of a Club Deal Programme, which aims to provide investors with access to prime real estate globally through a syndicated equity structure.

The real estate team currently manages approximately $3.1 billion of AUM on behalf of clients of HSBC Private Banking in key global cities such as Washington, D.C., New York City, Edinburgh, Brussels, Vienna and Geneva. The existing portfolio spans multiple sectors including prime office space, retail and student accommodation.