Six landmark London office properties have been bought by the Carlyle Group for £671 million. The properties were part of Syrian businessman Simon Halabi’s £1 billion portfolio who was declared bankrupt in April this year.
The properties were part of a commercial mortgage-backed security deal known as White Tower, which included ten properties, that was forced to go into liquidation because of the economic downturn.
The purchased buildings include Ludgate House, Sampson House, Millenium Bridge House, BSI tower, 60 Victoria Embankment and Alban Gate, which is fully let to JP Morgan Chase.
Other tenants taking up the 1.6 million square feet of space include IBM, United Business Media and UBS.
Robert Hodges, Managing Director of Carlyle European Real Estate, said: “This acquisition has provided us with a rare opportunity to acquire six landmark assets in strong locations, let to a number of global high quality occupiers. Whilst each property benefits from an existing secure income profile, there are considerable longer term opportunities across the portfolio for active asset management and redevelopment, where we believe we can add significant value”.
He added: “This acquisition is a further example of our strategy in Europe of making long‐term investments in landmark assets in strategically important European centres”.