Witkoff JV sows £175m in Covent Garden

New York-based property investor Witkoff Group has made a return to the UK market with the purchase of an office block in London’s Covent Garden for £175m.

In a joint venture with London-based DCD Group, Witkoff has bought 90 Long Acre at a yield of 4.2%.

90 Long Acre is a 194,000 sq ft (18,023 sq m) grade A office building, owned by JER Partners and GE Real Estate, which bought the building in 2000. Tenants include Scottish Equitable, Eurohypo, GMAC and Regus.

Franc Warwick acted for the vendors; CBGA acted for the purchasers.

Source: Property Week