LBS completes on £32m Defoe Court deal
Published by Property Week | Wednesday, December 19th, 2018
By Richard Hook
Developer LBS Properties has completed the acquisition of the 43,000 sq ft Defoe Court office building at 44 Featherstone Street for £32m from Amundi Asset Management.
LBS Properties has also simultaneously closed on a funding deal for a £29m loan from Greenoak Real Estate which it will use to refurbish and extend the building, Property Week can reveal.
The deal reflects an initial yield of around 4.5% and forms part of the eight asset Amundi Collection portfolio disposal by Amundi Asset Management. London & Oxford Group previously acquired two of the City assets in the portfolio, 1 King’s Arms Yard and 2 Copthall Avenue, for £58m and £24.5m respectively. …
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