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Greenwich Group International Picks Up 10 UK Buildings for 110 Mil.

NEW YORK CITY-During the last six months it has sold 20 properties with an average ROI between 40% and 50%. It also acquired over 30 properties during that time.

By John Howe | Updated on August 02, 2000

Ten office buildings have been added to the portfolio of the Greenwich Group International, which bought them from Great Portland Estates for $110 million. Tenants include Caterpillar, Barclays Bank as well as financial and telecommunications companies. The buildings are spread all over the country. The deal, which bore an initial 9% yield, was undertaken in partnership with Lehman Brothers. Greenwich’s assets of 140 office and industrial buildings, all in Britain, total approximately $650 million.

Simon J. Mildé, chairman and CEO, says the company, “is presently in negotiations for several other substantial assets within the United Kingdom.” They have an estimated worth of £200 million.

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