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Union Investment pays €245M for London office property

German fund manager Union Investment paid roughly €245 million to acquire the nine-story office building at 160 Aldersgate St. in London for its open-ended real estate fund Unilmmo Deutschland, IPE Real Assets reported.

The property features 19,300 square meters of rental space and is 100% leased by international law firm DLA Piper for 20 years.

Greyhound Investing Corp. is the seller, according to the report.