Forum JV Buys Serviced Offices in London
Forum Partners, through its Forum European Realty Income Fund III, and Office Space in Town, a specialist serviced office operator, have made the first investment through their joint investment vehicle, London Serviced Offices Ltd (LSO).
LSO has made an initial investment of approximately £10 million (€12.6 million) to acquire the 3,290-square-metre 46 New Broad Street in London, which was previously occupied by Deutsche Bank. The investment includes acquisition costs as well as refurbishment and IT network installation. The building will be available to tenants from 1 October.