AEW Europe's EUR 800 mln Episo fund has made its fifth investment with the acquisition of an office property in the City of London for £67 mln (EUR 71.6 mln). The long leasehold interest in City Place House, a core City of London building, was purchased from Prupim for a Net Initial Yield in excess of 10% and a capital value of £365 per sq ft. This is the fund's second transaction with UK asset manager Prupim after previously acquiring a diversified retail, office and logistics portfolio in the UK with Mountgrange Investment Management last year.
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