U.S. investment management firm Barings has acquired Capital House, a grade A office building in the City of London, UK, for 130.5 million pounds ($181.3 million).
Built in 2003, the stone-clad building comprises 126,000 square feet of office, retail and ancillary space over basement, lower ground, ground and eight upper floors.
On behalf of a core investment strategy, Barings acquired Capital House, which is located on the north side of King William Street, from a German retail real estate fund managed by global real estate manager DWS.
Barings intends to undertake a comprehensive programme of active asset management to reposition the building into a best-in-class office in the core of the City of London, with strong sustainability credentials.