Deka Immobilien Completes Sale of London Office Building to CBRE GI for £265M
Atlantic House is Fully Let to Law Firm Hogan Lovells until End of 2026
Atlantic House (Source: Costar)
By Sharon Smyth
February 17, 2021 | 12:28 P.M.
Deka Immobilien has completed the sale of an office building in London from the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal for £265m to CBRE Global Investors.
“Atlantic House” was built in 2001 and offers more than 24,000 sq m (258, 333 sq ft) of leasable space and 23 parking spaces. It is fully leased to the international commercial law firm Hogan Lovells International until the end of 2026.
The property is in a prominent location on an island on the north side of the Holborn Viaduct in the western part of the City of London. It has received British BREEAM “Very Good” certification for sustainable construction.
The transaction allows fund management of Deka-ImmobilienGlobal to sell an older building after a holding period of close to 17 years in accordance with its strategy for the fund. The deal was first reported by Costar News in November.
TT&G Partners advised CBRE GI on the purchase.