CHICAGO, LONDON—LaSalle Investment Management, the Chicago-based global real estate investment manager, has just purchased the freehold interest of 60 London Wall on behalf of an unnamed overseas client from Deutsche Fonds Holding AG for £197.5 million.
Deutsche Fonds Holding acquired the mixed-use 60 London Wall as part of the PFM Private Funds Management GmbH portfolio last year, after it was purchased for the PFM EuroSelect Zwölf GmbH & Co. KG real estate fund in 2005.
Constructed in 1991, the building at London Wall and Copthall Ave. has 261,748 square feet of office and retail space. The Dutch multinational banking and financial services corporation ING occupies the building, but it will relocate to 8-10 Moorgate when its lease expires in September 2016.
“The acquisition is in line with our strategy of importing international capital to London through strategic partnership vehicles,” says Gary Moore, LaSalle's head of strategic partnerships for Europe. “We are looking to identify long-term investment opportunities in areas of strong occupier demand.”
LaSalle was advised by Everton Phillips; Deutsche Fonds Holding AG was advised by JLL and CBRE.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
