By Staff writer
Washington-based private equity firm Carlyle Group offloaded the two buildings to Singapore-listed Hotel Properties Limited
the US private equity firm in which Abu Dhabi’s Mubadala Development Company
owns a 7.5 percent stake, has reportedly sold two properties in London for
£308 million ($335million).
Hotel Properties Limited is said to have reached an agreement with Carlyle
Group to buy two Bankside properties, with 5 percent maid upfront and the
remainder on completion of the deal, which is expected to be in May 2015.
will allow the HPL Group to expand its property portfolio in Southbank, Central
London by way of the acquisition of the Properties,” Hotel Properties said in a
has historically been recognised as one of the central London’s leading
cultural hubs, being home to the capital’s most famous institutions including
the Royal Festival Hall, Tate Modern and National Theatre,” its regulatory
The properties sold
are Ludgate House and Sampson House, two existing office buildings, and Falcon
Point, a neighbouring residential building.
was founded in 1987. Abu Dhabi investment vehicle Mubadala bought a 7.5 percent
stake in the company in 2007.