Carlyle buys up £671m of White Tower buildings
AMERICAN private equity group Carlyle has snapped up six central London properties for a total of £671m, its first major purchase since 2008.
The properties were part of a portfolio owned by entrepreneur Simon Halabi, which was used to secure the failed White Tower commercial mortgage-backed securities vehicle.
Carlyle said yesterday the properties generate around £62m in annual rent from 1.6m sq feet of floor space.
The portfolio includes JP Morgan’s offices at 60 Victoria Embankment and Alban Gate, UBS offices at Millennium Bridge House, Sampson House and Ludgate House on the South Bank and BSI Tower.
Robert Hodges, managing director at Carlyle European Real Estate, said: “This acquisition is a further example of our strategy in Europe of making long-term investments in landmark assets in strategically important European centres.”
The properties were put up for sale in March, following the winding up of White Tower
in September, The value of the properties had almost halved by the time the securitisation folded.
CBRE is overseeing the ongoing sale of White Tower assets.