European real estate investor Henderson Park has acquired an office project in London's midtown district from Commerz Real, a subsidiary of German Commerzbank.
Financial details were not disclosed.
'Athene Place is an exceptional building which has already begun to attract interest from tenants and which we believe has huge potential in one of London’s fastest-moving and best connected sub-markets,' said Nick Weber, founding partner of Henderson Park.
'This investment underscores our firm belief in the demand for institutional quality Central London office space, driven by London’s pre-eminent position as a centre for international business. We are excited to partner with Endurance Land and work to deliver a high-quality asset for this part of the City.'
The 147,000 ft2 (13,650 m2) office building is situated directly opposite the main entrance to Goldman Sachs’ new European headquarters, and adjacent to Deloitte’s UK Campus in New Street Square. The asset will also have access to the Elizabeth line. According to Henderson Park, vacancy in the submarket is currently below 4%.
The transaction was financed with senior debt provided by Blackstone Real Estate Debt Strategies.
The deal marks Henderson Park’s 11th investment and its first in the London office market. Its portfolio includes hospitality, multifamily, and office assets in London and other Western European capital cities.