KGAL fund acquires office building in London

German asset manager KGAL Investment Management GmbH & Co. KG has acquired the office building 101 St Martin’s Lane in London’s West End for its fund KGAL Core 4. The seller is Legal & General Investment Management Limited. The building offers a total of approximately 47,600 square feet of leasable space. The purchase price of the property was £56 million (€65 million/$76 million).

“We continually monitor market conditions, and we are convinced that now is a good time to invest in London again,” said André Zücker, managing director and head of real estate of KGAL Investment Management. “101 St Martin’s Lane, a light-filled office building, is not only promising because of London’s market potential, but it also impresses with its location in the heart of trendy Covent Garden district. We are confident that our experience in the London market and our active management approach will enable us to generate an attractive return for our clients.”