New York-based property investor Witkoff Group has made a return to the UK market with the purchase of an office block in London’s Covent Garden for £175m.
In a joint venture with London-based DCD Group, Witkoff has bought 90 Long Acre at a yield of 4.2%.
90 Long Acre is a 194,000 sq ft (18,023 sq m) grade A office building, owned by JER Partners and GE Real Estate, which bought the building in 2000. Tenants include Scottish Equitable, Eurohypo, GMAC and Regus.
Franc Warwick acted for the vendors; CBGA acted for the purchasers.
Source: Property Week