Transactions - JUNE 24, 2014

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Perella Weinberg buys London office for $319m

by Andrea Waitrovich

Perella Weinberg Partners has agreed to buy the Amerada Hess Building in London for £190 million, or £957 per square foot ($318.5 million/$1,604 per square foot). The seller was W.R. Berkley Corp.

Eastdil Secured represented the seller.

The building is 100 percent occupied by the Hess Corp., formerly Amerada Hess. The tenant is a U.S.-based integrated oil company.

W.R. Berkley acquired the five-story office building in 2011 for £147.5 million ($250.3 million). The previous owner was Beacon Capital Partners, which acquired the asset in 2007 for £241 million ($409 million) from a joint venture between Sedco and IIB Bank.


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