KIM pays £200m for office building in the City of London

Korea Investment & Securities Co. (KIM) has acquired a 15-story office building in the City of London for £200.5 million ($266 million).

The seller was Mitsui Fudosan.

It is the first property investment by the South Korean securities company in London.

70 Mark Lane is a 15-story development in the heart of the city’s insurance district, providing 177,000 square feet of class A office, retail and restaurant space.

The sale follows Hong Kong–based CK Asset Holdings’ £1 billion ($1.33 billion) acquisition of the office located at 5 Broadgate. And AXA Investment Managers – Real Assets, on behalf of clients, recently completed the sale of Ropemaker Place, a prime office building in the City of London, to a subsidiary of Ho Bee Land, a Singaporean listed company, for £650 million ($860 million).

In another example of Asian investors targeting European properties,