The European headquarters of Hines, the international real estate firm, has announced that its Pan-European Core Fund (HECF) has acquired One Eleven Edmund Street, a prime office building in Birmingham, from German real estate fund IVG Institutional Funds GmbH. Financials on the deal were not disclosed.
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One Eleven Edmund Street.
One Eleven Edmund Street, completed in 2003, is a class-A office building providing 44,000 ft² (approx. 4,000 m²) of space on seven floors. It is occupied by Gateley, a leading regional commercial law firm.
"We are delighted to acquire HECF's first office investment in Birmingham. This is a high-quality building in a great location, and Gateley is a successful and highly respected company," said Hines UK Director Anthony Leonard.
HECF is a euro-denominated, Luxembourg-regulated Fonds de Commun de Placement (FCP-FIS), managed by Hines and created to acquire a geographically diverse portfolio of core commercial buildings across Europe.
Hines was advised by GBR Phoenix Beard and Wragge & Co. Debt financing was provided by LBBW. IVG was advised by Jones Lang LaSalle.
Through other entities, Hines also owns two additional properties in Birmingham, Brindleyplace and Two Snowhill.
Source: Hines
"We are delighted to acquire HECF's first office investment in Birmingham. This is a high-quality building in a great location, and Gateley is a successful and highly respected company," said Hines UK Director Anthony Leonard.
HECF is a euro-denominated, Luxembourg-regulated Fonds de Commun de Placement (FCP-FIS), managed by Hines and created to acquire a geographically diverse portfolio of core commercial buildings across Europe.
Hines was advised by GBR Phoenix Beard and Wragge & Co. Debt financing was provided by LBBW. IVG was advised by Jones Lang LaSalle.
Through other entities, Hines also owns two additional properties in Birmingham, Brindleyplace and Two Snowhill.
Source: Hines
