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Singapore investor buys 1.4msf U.K. complex

by Andrea Waitrovich

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

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