Canada鈥檚 Ivanho茅 Cambridge has bought a trophy office building in central London.
The real estate arm of the Caisse de depot et placement du Quebec said it had paid 拢170m (鈧�238m) for 3 Minster Court in the City district of the UK capital.
The 275,000sqft property, built in the 1990s by Prudential, is let to the London Underwriting Centre.
Meka Brunel, executive vice president for Europe at Ivanho茅 Cambridge, said: 鈥�3 Minster Court meets our investment objective to build critical mass of high-quality assets in London. We believe we can add value to the property over time.鈥�
The asset鈥檚 location, Brunel said, is one of the 鈥漨ost sought-after office markets鈥� in London.
The deal follows the Canadian institutional investor鈥檚 拢122m purchase of Stonecutter Court from Hines Global REIT .
Another London property, Woolgate Exchange, was last year sold by Ivanho茅 Cambridge to Cathay Life Insurance, less than two years after purchase.
