LONDON—Madison International Realty, a NewYork-based investment company, has acquired a 50% ownership stakein The Houndsditch Estate in the City ofLondon from TIAA Henderson Real Estate onbehalf of its Central London Office Fund, layingthe groundwork for a new joint venture partnership between the twofirms.
With a total value of $315 million (£200M), the326,000 sq ft portfolio comprises five properties, and is currently95% leased.
“We are excited to be partnering alongside (TIAA Henderson) THReal Estate in the ownership of this high quality and extremelywell-located office portfolio in Central London,” said DerekJacobson, managing director at Madison International. “Thistransaction is directly in line with our investment strategy ofacquiring ownership stakes in core, quality real estate located inprime locations through the injection of equity into existing jointventure and partnership structures.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
