Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Two of the Peabody private equity funds run by J P Morgan have spent £146 million ($210 million) on a portfolio of nine central London office buildings. The vendor, Security Capital European Realty’s London office subsidiary City & West End Group, has retained three development sites but otherwise the sale amounts to a liquidation of its investment portfolio.

The portfolio includes buildings in Victoria Street, Clifford Street, Wardour Street and Percy Street in the West End; Savoy Court in Midtown and Lime Street in the City. The three development sites to be retained by Security Capital are in The Strand, Savile Row and South Street but Security Capital will continue to manage the investment portfolio on behalf of Peabody.

Debt finance for the acquisition came from Morgan Stanley and the German mortgage bank Deka. The Peabody funds now have over £450 million ($650 million) invested in London property. In February 2001 they bought the Cutlers Gardens estate on the eastern fringe of the City of London for £300 million ($440 million).

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.