The 370,000-sf building, designed by Kohn Pedersen Fox, has been Goldman Sachs' European headquarters since it was built in 1991. The financial giant will remain in the site under a long-term lease.
Michael Spies, senior managing director for Tishman Speyer in Europe, calls the property a "stable asset and an ideal investment for our European core fund. It's an exceptionally well located property with secure tenancy, tremendous value, and lasting potential for growth."
The long-term core fund was established last year to acquire prime properties in major European cities. The previous two acquisitions were Santa Margherita in Milan and Leadenhall Court, also in London. The goal of the fund is to acquire in excess of 1.2 billion euros worth of properties. Tishman Speyer has been active in London since 1995, and this acquisition represents its eighth investment in the market, totaling more than 850 million pounds. Founded in 1978, the company has acquired or developed a portfolio totaling more than 74 million square sf, valued at over $20.6 billion.
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