Istithmar PJSC, the investment house based in the United Arab Emirates, has completed the purchase of Marcol House, London, W1 and has re-branded the property as Cavendish Gate. The £64 mln (EUR 95 mln) transaction was originally announced in January. Debt funding for the acquisition was provided by German real estate bank Eurohypo, which provided a £35 mln acquisition facility that allows Istithmar PJSC to hold the asset whilst working on future strategies to increase its value.
Premium subscriber content – please log in to read more or take a free trial.
