French real estate investment firm Eurazeo Patrimoine, a unit of private equity firm Eurazeo, alongside UK-based peer Arax Properties, has bought Euston House, a London office building.
The freehold property was bought for about 105 million euros ($120.4 million) with a Eurazeo equity commitment after a funding round of $45 million.
The office building, situated in the London Borough of Camden, has a surface area of about 11,000 square meters, 119,000 square feet, and consists of a large number of healthcare and educational institutions.
Euston House is fully leased until 2022 and therefore will avail a secure rental income and ultimately, strong rental reversion potential.