Transactions - JULY 9, 2015

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Two London offices sell for £430m

by Andrea Waitrovich

In separate deals, two offices in City of London sell for £430 million ($662.3 million).

Deka Immobilien GmbH, represented by joint agents Savills and CBRE, has completed the sale of Christ Church Court at 15 Newgate St., EC1 in an off-market transaction to Hong Kong–based investor Hui Wing. The sales price was approximately £270 million ($423.9 million).

The deal is the first U.K. investment made by Hui Wing Mau, who is the owner of Shimao Property, one of the largest property developers in China.

The office building, located on Paternoster Square, totals approximately 303,000 square feet and is let in its entirety to Goldman Sachs until 2025.

In addition, Miami-based real estate investment group Crescent Heights has completed its acquisition of an office in London for £160 million ($251.2 million).

The seller was Downtown Properties, the Los Angeles–based investment arm of real estate fund manager Gaw

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