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Dubai PE firm acquires UK office building for £140M

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Dubai PE firm acquires UK office building for £140M

Gulf Islamic Investments LLC acquired the Priory Court & The Lewis Building in Birmingham, U.K., for about £140 million from Legal & General's LGIM Real Assets, Property Week reported.

The seller has renovated the office property since acquiring it in 2014, according to the report. Tenants include the Ministry of Justice, Business Growth Fund and Freightliner.

The sale was made on behalf of LGIM's UK Property Income Fund (UK PIF II).

Gulf Islamic is a Dubai-based venture capital and private equity firm that focuses on early-stage and late-stage ventures, turnaround, expansion capital, buyout and special situation investments, according to S&P Global Market Intelligence data.