Dubai's Al Gurg vehicle buys London office block for over $350mln | ZAWYA MENA Edition:
"An asset management company owned by the Dubai-based Al Gurg family has agreed to buy an office block and neighbouring residential building in London for £266.5 million ($356.8 million).
Wolfe Asset Management, a company owned by the Al Gurg Family, has bought the 240 Blackfriars Road office building and neighbouring residential block Cubitt House from the Great Ropemaker Partnership (GRP), a 50/50 joint venture between Great Portland Estates and Ropemaker Properties, which is the property nominee of the BP Pension Fund.
GRP said in an announcement on the London Stock Exchange on Monday that contracts have been exchanged on the deal and is expected to be completed next month."
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