-80x80.jpg "Fortress acquires $1bn office loan portfolio from Capital One")
The New York-based private credit manager picks up substantial exposure to the city's office market in the deal.
The New York-based capital advisory firm expects to see more firms looking to make strategic acquisitions for geographic expansion.
The deal is set to be one of the largest in Europe so far this year, and the largest whole-portfolio transaction in the region.
The transaction comes at a time when the opportunity set for real estate secondaries investing is shifting.
Private equity firms and institutional investors were conspicuously absent from first-half activity, while other buyers came to the fore.
The price of an interest rate cap has become one of the biggest obstacles for real estate owners in negotiating a loan extension.
The US private investment firm’s founder said the ‘third wave’ of data center demand is the driver behind its latest real estate deal.
While high-profile occupiers like HSBC are downsizing in the city, size is not the only driving factor in the decision to relocate.
The tower's tenants include law firm Parker Stansbury, investment bank Morgan Stanley and fitness company Equinox.
The London-based firm has acquired two separate portfolios amounting to £177m via its partnership with Argo Real Estate.