LaSalle Investment Management has purchased a London property for £197.5 (AU$407.85) million from Deutsche Fonds Holding.
The 'freehold interest' of 60 London Wall was acquired by global real estate manager LaSalle on behalf of "an overseas client".
Deutsche Fonds Holding had acquired 60 London Wall as part of the PFM Private Funds Management GmbH (formerly IVG PFM) portfolio last year, according to a statement by LaSalle.
The building, constructed in 1991, is fully let and currently occupied by Dutch bank ING until September 2016, according to the statement.
LaSalle Investment Management's Gary Moore said the acquisition is in line with the company's strategy of importing international capital to London via strategic partnership vehicles.
"We are looking to identify long-term investment opportunities in areas of strong occupier demand," Mr Moore said.
LaSalle was advised by Everton Phillips on the deal, while Deutsche Fonds Holding AG was advised by JLL and CBRE.
The big four bank has confirmed the move today. ...