ING Real Estate Investment Management UK has exchanged contracts on the acquisition of 88 Wood Street, London EC2 for €343.4 million (£232.5 million) through a co-investment vehicle. This landmark City of London office building has been bought from Sachwert Rendite-Fonds England GmBH and is the single biggest asset purchased by ING Real Estate Investment Management in the UK.
88 Wood Street, London.
Wood Street is a contemporary state of the art property designed by Richard Rogers Partnership. It provides over 23,011m² (247,689 sq ft) of some of the highest quality office space and accommodation in the City of London, arranged over ground and 17 upper floors.
ING Real Estate put together a co-investor partnership specifically to acquire this major building. The 88 Wood Street co-investors include segregated account clients of ING Real Estate Investment Management, ING Central London Fund, clients of Arlington Property Investors and ING Real Estate Investment Management (UK) Ltd Long Term Incentive Plan.
Source: ING Real Estate