KanAm Grund Group reportedly paid about £130 million to purchase investment management company Standard Life Aberdeen PLC's headquarters in Edinburgh on behalf of German pension fund Ärzteversorgung Westfalen-Lippe, Property Week reported.

Standard Life Pooled Pension Property Fund sold the property at 4-8 St Andrew Square, which features 100,000 square feet of offices, 65,000 square feet of shops and restaurants, and five apartments, the May 23 report added.

A 20-year lease variation with Standard Life Aberdeen was signed prior to the sale of the property, which also counts retail chain TK Maxx as one of its tenants.