Amundi Real Estate completes London office purchase
Amundi Real Estate, the €7bn manager, has acquired its first wholly owned London office building through its retail property collective investment scheme OPCI.
No value on the deal has been given, but the property, located north of the City of London is 100% occupied currently.
Carmen Lopes, Amundi’s head of Retail Funds said: “Following our first co-investment in the UK in 2012, this acquisition confirms our capacity to invest in the UK and reflects our strategic decision to gain exposure to this market. Our partnership with Knight Frank Investment Management will enable us to expand our presence in the London market in the future.”
Ian Whittock, CIO at KFIM, said the location of the building – Defoe Court – would benefit from being in an area identified by the UK government as one in which it is encouraging IT firms, as well as the future completion of the Cross Rail project, which will increase the availability of rail based public transportation through London.
Amundi Real Estate is part of French asset manager Amundi, which has total AUM of some €750bn.