Singapore investor buys 1.4msf U.K. complex
Oxford Properties, the global real estate arm of Ontario Municipal Employees Retirement System, has sold the Green Park complex in southeast England to Singapore-based Mapletree Investments. The sales price was not disclosed; however, the property has a total value of £500 million ($731 million), according to Real Capital Analytics.
Oxford Properties will continue to act as asset manager on behalf of the new owners until year-end 2016. Oxford Properties acquired the office complex in 2011 for £449 million ($656.1 million).
Green Park, located in Reading, England, extends more than 190 acres, comprising 1.4 million square feet of class A office and amenity space across 19 office buildings. There is planning consent for a further estimated 850,000 square feet to be added over time, allowing Green Park to respond to strong occupier demand for the asset.
Oxford Properties was represented by Eastdil Secured, Cushman & Wakefield and DLA Pipe