The Canada Pension Plan Investment Board (CPPIB) and Hermes Real Estate Investment Management Limited have purchased a London office building for £100 million ($166.6 million) from clients of Orchard Street Investment Management.
The deal, which is part of their 50/50 office joint venture, is the partnership’s first purchase following its formation in July.
The 214,000 square foot building, called Aldgate House, is eight storeys tall and located next to Aldgate Underground station.
“This acquisition complements our existing London office portfolio and highlights our desire to grow the partnership with Hermes Real Estate as we continue to execute on our strategy of acquiring high-quality properties,” says Wenzel Hoberg, managing director and head of real estate investments in Europe with CPPIB.
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