Ping An Insurance has bought a London office from Deutsche Asset & Wealth Management.
The Chinese institutional investor paid 拢327m (鈧�423m) for Tower Place in the UK capital鈥檚 City district.
It is the second, high-profile deal in London by the Chinese insurer since the in 2013.
Gaw Capital Partners advised Ping An on both deals.
The Hong Kong-based adviser said it had now bought seven properties in London on behalf of Asian clients.
In 2013, founder a rise in Chinese insurance capital targeting global real estate investments following the relaxation of regulatory rules.
Deutsche AWM, meanwhile, said the sale was completed for its open-ended German property fund, Grundbesitz Europa.
Designed by Sir Norman Foster, the 385,000sqft building, 99.3% let, had been on the fund鈥檚 books since 2003.
James Petit, head of real estate, UK and Ireland for Deutsche AWM, said the asset had 鈥漮utperformed expectations鈥�.
鈥淪elling has allowed us to capitalise on the interest in London and we will now refresh and rebalance the fund鈥檚 UK portfolio,鈥� Petit said, adding that the firm is already looking at a 鈥漵ubstitute target asset鈥�.
