LONDON-A subsidiary of European Property Investors Special Opportunities LP, which is a property fund co-advised by AEW Europe and Tristan Capital Partners, has sold Wimbledon Bridge House for $77 million. The seller, asset manager Hermes Real Estate, had purchased the office building for $49 million only nine months ago.
The 21-year-old property is 100% occupied with six office tenants, including Wandsworth Primary Care Trust, and four retailers, such as WH Smith and Next. The building is across from the Wimbledon rail and underground station.
There is strong demand from institutions and other investors for this type of core asset, according to officials from AEW and Tristan. “The UK market, which has seen the fastest re-pricing in the decent downturn of any major European real estate market,” said Ric Lewis, Tristan CEO, said in a statement.
He said the fund will continue to seek additional investments in the United Kingdom. The fund recently sold the London office City Place House to Great Portland Estates for about $137 million.
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