The 300,000-sf building has an annual rental income of more than euro 14.7 million ($18.9 million) and is let to the Department for Work and Pensions and US energy company Amerada Hess. "This purchase is a further step in the fulfillment of our investment strategy in the UK," says Istithmar managing director Richard Johnson, explaining that the strategy involves "assembling a portfolio of top quality assets in prime locations."

Istithmar is an alternative investment house based in UAE and owned by Dubai World, which is in turn wholly owned by the Government of Dubai. Its equity investments exceed $2.6 billion.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

International
Office