Hines, HAIL Venture Buys London Office Complex
A joint venture between Hines and HSBC Alternative Investments Ltd (HAIL) has acquired the Broadgate West office complex in the City of London from a private company owned by Peter Marano and Michael Dennis.
“It was a pleasure to do business with a buyer that performed on the deal we shook hands on,” says Marano.
The 42,500-square-metre property is located on the northern edge of the Broadgate estate and incorporates two phases. The 10-storey, 22,600-square-metre first phase was designed by Gensler and completed in 2000, and the 12-storey, 19,900-square-metre second phase was designed by SOM and completed in 2003. Tenants of the two buildings, which are fully let, include Ashurst, GFI, Shearman & Sterling and UBS.
“We are delighted to have closed this acquisition in Hines’ first joint venture with HAIL,