LONDON—Thor Equities and AEW said Friday they had completed the acquisition of a mixed-use property at 100 New Oxford St. here for £180 million (US$237 million). The acquisition from Tishman Speyer was funded through a mix of equity and a new £90 million debt facility with Bayerische Landesbank. AEW acquired its stake in the West End property on behalf of a joint venture between two German institutional investors.

“This area of London has a strong and growing momentum behind it and the transaction reflects our ability to identify and secure high profile, core assets in competitive markets,” says Rob Wilkinson, European CEO at AEW. When the deal was announced this past August, Wilkinson called 100 New Oxford “an exceptional property in an area that is benefitting from major investment and improvement, including the most significant infrastructure project in Central London for over a century.”

The continent's largest infrastructure project, Crossrail is expected to bring an extra 1.5 million people to within a 45-minute commute of Central London; the Tottenham Court Road station affiliated with that project is undergoing a major refurbishment and is situated just 100 meters away from 100 New Oxford. When the renovated station comes on line, “demand for space in the area will only continue to grow,” Joseph Sitt, CEO of Thor Equities, said in August.