Investments
 
Chancery Exchange
 
Location London, United Kingdom
Date acquired Acquired by Global Fund I in November 2001
Total equity purchase price US$26.6 million (100%)
Structure 84% joint venture interest
Investment type Office redevelopment
Description A 100 year old, grade II listed heritage property located close to the law courts in central London. Chancery Exchange is a six storey building with 7,600 sqm of leaseable space.
Investment strategy The property was fully redeveloped to provide the highest quality modern, air conditioned office space behind the original retained façade and period rooms. It was leased up and sold for a record initial yield into a strengthening investment market, setting a benchmark for London's midtown submarket.
Date sold September 2006
   
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