| Temasek Holdings, a sovereign wealth fund owned by the Government of Singapore, has exchanged contracts on its purchase of a 50% stake in MidCity Place, heralding its debut purchase outside of Asia. Temasek has paid Beacon Capital Partners, advised by Eastdil Secured, just over £175m for the half share in the 336,901 sq ft EC1 office trophy, a deal first revealed by CoStar News last month.
The deal was secured following a close run bidding war against other sovereign wealth funds drawn to the quality of the asset and the opportunity to share the ownership of the building with Oxford Properties, which owns the other 50% interest...............................................Full Article: Source
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