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Legal & General Group buys UK office property for £211M

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Legal & General Group buys UK office property for £211M

U.K.-based insurer Legal & General Group PLC bought 377,730-square-foot Wellington Place office asset in Leeds, U.K., for £211 million, IPE Real Assets reported.

The asset, which includes two office buildings, basement car parking and associated retail and leisure facilities, was acquired from Canada Pension Plan Investment Board and Hermes Investment Management, the publication noted.

The property has been pre-let to the Secretary of State for Communities and Local Government on behalf of HMRC and NHS Digital. Legal & General, through its retirement arm, forward funded the asset.