AFIAA buys office building in London
The AFIAA Investment Foundation for Real Estate Investments Abroad has acquired a modern office building in London's West End as part of an asset deal.
The acquired office building 12 Golden Square is located in the Soho submarket and was built in 1995/1996. Following full modernization in 2015, the property offers a total of around 2,500 sqm of usable space over six upper floors, which are currently let to several tenants. The parties have agreed not to disclose the purchase price. The acquired Grade A office building also meets "high tenant requirements due to its very good quality of space and excellent location," the investment foundation says. There are five subway stations in the immediate vicinity.
The seller is the institutional real estate fund UBS Triton Property Fund, which focuses on the UK. According to AFIAA, the acquired property complements properties already in its existing portfolio in the City of London and St. James's. "Despite the challenges in the markets, we continue to see good opportunities to acquire suitable properties in the 2017/2018 financial year," comments Sebastian Feix, Global Head of Transactions at AFIAA, on the latest purchase.
