The Public Sector Pension Investment Board, together with its investment partner Tishman Speyer Properties, is selling a mixed-use property in the west end of London.
The building, Verde SW1, was sold to Deka Immobilien, a global real estate investment manager, for an undisclosed sum. It comprises 318,000 square feet for leasing, more than 10 floors of office space, street level retail space and several large rooftop terraces.
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In 2012, when PSP initially purchased the property with Tishman Speyer, it obtained permission to extend the property from its then 258,000 square feet. The redevelopment was complete in January 2017.
“The success of Verde SW1 is a true example of PSP Investments’ ability to continually identify emerging sectors and locations early on and execute on tactical and creative business plans alongside our partners,” said Stéphane Jalbert, managing director for real estate for Europe and Asia Pacific at PSP Investments, in a press release.