TRIUVA, the real estate investment manager with €10bn of assets under management, has sold 43 Brook Green, an office building in Hammersmith, London, via a share transaction. The buyer is Neo Capital. Both parties agreed not to disclose the sales price.
The five-story office structure, comprehensively renovated in 1993, offers total usable space of circa 8,000 m². 43 Brook Green is fully let to CH2M Hill Companies, Limited, a US based global engineering firm. TRIUVA had initially acquired this core investment 2.5 years ago on behalf of one of its special funds mandates with a long term “hold” perspective.
“Through this sale transaction, we were able to take full advantage of the current favourable market environment to achieve an excellent result for our investor – and this just one year after the Brexit vote,” says Heiko Süß, Head of Fund Management at TRIUVA. “The transaction is likewise very attractive to the buyer because of the long-term lease duration and low passing rent, which allows rental growth perspectives for the future.”