| Singapore sovereign wealth fund Temasek has teamed up with Canada's Ontario Municipal Employees Retirement System property arm to buy Time Inc’s UK HQ in London from the publishing group for £415m.
Extending Temaseks’s build-up of London assets which started a year ago, the pair bought the 46,000 sq.m. office on London’s South Bank from the publisher, which has owned and occupied the building since it was completed in 2007. It put the Blue Fin building up for sale after sustaining heavy losses in the first quarter of the year, but will continue to use building as its headquarters through a leaseback agreement for over a third of the space with the new owners...............................................Full Article: Source
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