Harbor Group Buys London's Relay Building For $120M
"We believe the acquisition provides diversity and attractive risk adjusted value for our investors and we anticipate continuing to pursue actively investment opportunities in the London market.”
LONDON – Harbor Group International LLC announced that it has, along with ZC Ronogil, acquired The Relay Building, a 22-story, mixed use tower in London, England.
The building was acquired for $120 million. Built in 2014, the property contains 105,996 square feet of office and retail space. The property is fully leased to a group of tenants on long term leases. The submarket has convenient access to major transportation hubs in London with four commuter train lines within minutes of the property.
T. Richard Litton, Jr., President of HGI, stated, “The Relay Building is located in the heart of Aldgate, an internationally renowned tech belt in east London that is experiencing significant growth. In addition to a strong pipeline of residential development in the immediate area that we believe will drive long term office demand, the Relay Building is immediately proximate to multiple commuter train stations, an important demand driver in the London market. We believe the acquisition provides diversity and attractive risk adjusted value for our investors and we anticipate continuing to pursue actively investment opportunities in the London market.”