Union Investment closes £220m London acquisition
Union Investment has bought Mitre House at 160 Aldersgate Street, EC1, in London for approximately £220 million ($290 million).
The seller of the 148,482-square-foot office was the Greyhound Investing Corp.
It serves as law firm DLA Piper’s new City headquarters. There is a lease with a fixed term of 20 years.
The German fund manager said it acquired the asset for its open-ended real estate fund Unilmmo Deutschland. It is the firm’s second office building of its size that it acquired in London this year.
The acquisition of the property 160 Aldersgate Street for the UniImmo: Germany is consistently continuing this investment strategy.
In July Union Investment acquired The Copyright Building, 30 Berners Street W1, located in London’s West End, for £165 million ($219 million) for the Unilmmo: Europa portfolio.
Castleforge Partners, who acted on behalf of Greyhound Investing Corp., was advised by GM Real Estate. Savills advised Union In