Barings has sold Nexus Place at 25 Farringdon Street, an office property in London, on behalf of institutional investors, to Brookfield for £169.4 million.
The office property is located on the east side of Farringdon Street in London, opposite Goldman Sachs’ new offices.
Barings acquired the building in 2013 and has since undertaken a number of value-add asset management initiatives. Public spaces and office floors have undergone refurbishment and a number of lease restructures were completed.
Nexus Place is now fully let to eight tenants and provides 159,840 square feet of Grade A office space with ancillary retail space.
“Nexus Place is an example of our ability to create value by implementing a number of asset management initiatives and deliver a strong return for our clients. With our business plan now complete we are looking to recycle the capital into alternative strategies.” said Darren Hutchinson, Head of UK Real Estate Transactions at Barings.
Barings was advised by BH2 as agents and DLA as solicitors.
