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LONDON-Friends Ivory & Sime Property Asset Management has paid £7 million ($10 million) for a 5% stake in the East India Dock Partnership, which owns the 592,000-sf East India Dock office complex in London’s Docklands. The £125 million partnership is managed by CIT and Morgan Stanley Real Estate.

East India Dock consists of four separate office buildings, one of which houses the civic offices for the London Borough of Tower Hamlets. Other occupiers are from the IT and financial services sectors, including Morgan Stanley subsidiary Donaldson Lufkin & Jenrette.

Other investors in the partnership include Royal Bank of Scotland, General Motors Pension Fund and the Six Continents Pension Fund. Ian McBryde, director of commercial property for FISPAM said: ‘FISPAM sees a great deal of potential for future growth in Docklands. The investment complements our existing holdings and developments in central London.’

FISPAM was advised by King Sturge.

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