Oxford, the global real estate arm of the OMERS, has today announced that it has exchanged on the sale of 50% of its Paternoster Square office assets to leading real estate investment firm, Madison International Realty, for circa €238.7 (£200m).
The assets include King Edward Court, home of the London Stock Exchange and St Martin’s Court, CBRE’s head office in the City of London.
Oxford acquired St Martin’s Court in October 2012 and King Edward Court in April 2013. As part of Oxford’s ownership of these two assets, Oxford also manages the Paternoster Square Estate, which it has actively worked to transform through the enhancement of the retail mix and provision of community events within the piazza.
Oxford Properties will act as asset manager for the new joint venture.
This transaction will be one of the largest commercial real estate transactions in the London market this year, which demonstrates the sustained flow of international capital into London and the resilience of London as a global gateway city despite the outcome of the EU referendum in June.
Oxford was advised by CBRE and Ashurst. Madison was advised by Fried, Frank, Harris, Shriver & Jacobson.
