Commerz Real has sold the fully-leased office and commercial building “Paternoster Square” in London in the course of the portfolio optimisation of its open-ended real estate fund Hausinvest. The buyer in the framework of an off-market transaction is CLI Dartriver in conjunction with several European family offices. It was agreed that confidentiality be maintained regarding the purchase price.
“We have utilised the ongoing high demand for properties in excellent locations to achieve a very good result for our investors,” said Maja Procz, Global Head of Transactions at Commerz Real.
Paternoster Square and the eponymous property benefit from the central and historic location. The building has five storeys with a total area of 1,897m2. Around 80% of this is office space which is leased in the long term to the law firm Gateley, while the ground floor accommodates retail outlets. The property was completed in 2002 in the course of the Paternoster Square urban development and acquired for Hausinvest together with the neighbouring building “Paternoster House”.
Image source - Pexels.
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