Helaba, together with Deutsche Genossenschafts Hypothekenbank AG, has arranged a club deal totalling £96 million (approx. 122 mln.) for a mixed office and retail property at 151 Buckingham Palace Road in the West End of London. The Property comprises 186,000 ft² (17,200 m²) of office accommodation and 6,000 ft² of retail space. It was completed in 1991 and extensively refurbished in 2005.
151 Buckingham Palace Road in the West End of London has a new owner.
The client is SITQ, a Canadian investment company which manages the pension funds for the State of Quebec. It has circa C$220 billion of assets under management. Circa C$12.2 billion is invested in real estate. In Europe it has assets of 3 billion predominately in the office market.
Helaba has had lasting success as a German real estate bank with an international focus. Its products and services in real estate range from development, funding and placement of real estate projects for investors. Helaba conducts its real estate finance internationally, with particular focus on economic centers in the US, UK, France and Northern and Central Europe.