The London Real Estate Industry team advised Angelo, Gordon & Company on the joint venture acquisition for £97.1 million of the 150-year leasehold interest in 1-5 London Wall Buildings, EC2.
The 209,307 sq. ft. Grade II listed London City office complex produces an annual rent of £4 million from 36 tenants including co-working operator London Office Space. Angelo Gordon and its joint venture partner, Endurance Land, are planning to refurbish the historic building by 2022.
The scheme sits on an island site of five interlinking buildings originally built in 1902 in the heart of the City of London ideally located to benefit from the completion of Crossrail and the reactivation of Finsbury Circus.
Angelo, Gordon & Company is a leading, privately-held alternative investment firm, managing approximately $32 billion across a broad range of credit and real estate strategies.
The Goodwin team was led by counsel Martin Smith, partners James Spence and Paul Lyons and included associates Katherine Baker, Benjamin Chatzkelson, Raymond Fang, Katie Leah, Louise de Souza, and Toby Young and trainee Daniel Sterling.