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Hogan Lovells acts for purchaser consortium on the c.£300million acquisition of 20 Gresham Street, a trophy office building in the City of London

26 May 2017

Press Contact

Adam Leviton

Public Relations Manager (Transactions)
+44 20 7296 5299

London, 26 May - Hogan Lovells, the global law firm, has represented the joint venture between NorthStar Realty Europe Corp., which is managed by an affiliate of Colony NorthStar, Inc, and China Resources Land (CRL) on the purchase of 20 Gresham Street, City of London, for approx. £300m.

The 242,800 sq ft building was bought from AXA Investment Managers and is CRL’s first acquisition in Europe. It is currently let to blue chip tenants including ICBC Standard Bank Plc and TSB Bank Plc.

The deal was led by Hogan Lovells London based real estate partner Daniel Norris and corporate partner Derek Meilman.

Commenting on the deal, Daniel Norris, said: "To work on such a high profile single asset transaction reinforces Hogan Lovells leading position in the investment market. There has been a trend of increasing Chinese investment in London's real estate market over the past year and we are delighted to help clients invest here.  Core London real estate remains attractive to Chinese investors, and the London market remains hot for the right stock and the right buyers – we're on course to have transacted over £1bn of central London real estate in the first six months of 2017 alone." 

ENDS

 

About NorthStar Realty Europe Corp.

NorthStar Realty Europe Corp. (NYSE: NRE) is a European focused commercial real estate company with predominately prime office properties within key cities in Germany, the United Kingdom and France, organized as a REIT and managed by an affiliate of Colony NorthStar, Inc. (NYSE: CLNS), a leading global equity REIT with an embedded investment management platform. For more information about NorthStar Realty Europe Corp., please visit www.nrecorp.com.

 

About China Resources Land Limited

China Resources Land Limited (HKSE: 1109), the flagship subsidiary of China Resources Group, is listed on Hong Kong Stock Exchange. It is a PRC-based real estate company with an integrated business model of "development properties (DP) + investment properties (IP) + X". Operating in 56 key cities in PRC, CRL has leading market positions in both DP and IP businesses among PRC-based listed companies. For more information about CRL, please visit www.crland.com.hk.

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