Ivanhoé Cambridge acquires London’s 21 Lombard Street for $240 mln

Ivanhoé Cambridge has acquired 21 Lombard Street, an office property located in the City of London. The purchase price was £130 million (gross) or approximately $240 million. The seller in the transaction was not disclosed. Based in Montréal, Ivanhoé Cambridge is the real estate investment arm of pension fund manager the Caisse de dépôt et placement du Québec.

PRESS RELEASE

Ivanhoé Cambridge completes acquisition of 21 Lombard Street in the City of London

LONDON, UK, and MONTREAL, May 5, 2015 /CNW Telbec/ – Ivanhoé Cambridge announced today the acquisition of 21 Lombard Street, an office property located in the City of London, from an undisclosed seller for approximately £130 million (gross).

21 Lombard Street is a prestigious Class A core asset, offering 116,000 ft2 (10,775 m2) of leasable space. The property is leased entirely to a large international bank for the long term.

“We are very proud of this acquisition, our third office property in the City of London in less than six months,” said Meka Brunel, Executive Vice President, Europe, Ivanhoé Cambridge. “We remain focused on a clear investment strategy of building a critical mass of quality office assets in London, alongside our partner Greycoat.”

DTZ represented the seller in the transaction, while Greycoat and Knight Frank acted for Ivanhoé Cambridge.

About Ivanhoé Cambridge
Ivanhoé Cambridge leverages its broad expertise, investing in, operating and developing real estate properties and companies to deliver optimal returns for its investors. Through multiple subsidiaries and partnerships, Ivanhoé Cambridge holds assets located mainly in Canada, the United States, Europe, Brazil, Mexico and Asia, which totalled more than Cdn$42 billion as at December 31, 2014. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com).

SOURCE Ivanhoé Cambridge

For further information: Ivanhoé Cambridge, Sébastien Théberge, sebastien.theberge@ivanhoecambridge.com, +1 866-456-3342 (Global)

Photo courtesy of Ivanhoé Cambridge