BIRMINGHAM, UK-Invista Foundation Property Trust has closed the acquisition of the BT building, a new office development in West Bromwich, for GBP 14.86 million. Earlier, the company paid GBP 0.75 million as partial payment and at the time of closing paid the remaining GBP 14.11 million.
The property, which comprises 75,000 square feet, is leased to British Telecommunications plc for 15 years. The tenant will pay GBP 1.2 million per annum as rent. For the full story, go to Europe Real Estate .
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