Union Investment Acquires Office Building On 55 Colmore Row In Birmingham For £100M
55 Colmore Row, Birmingham B3 2 Aa, United Kingdom
$100,000,000
$63/SF
Building Size
1,575,620 SF
Asset Type
Office
Closing
Oct 1, 2020
About this deal
AI
The office property located at 55 Colmore Row in Birmingham has been sold for £100,000,000. The sale took place on October 2, 2020. The property spans across 157,562 square feet, resulting in a price per square foot of £634,671. The transaction involved the seller, Nuveen Real Estate, and the buyer, Union Investment represented by Wolfgang Kessler. The seller was represented by A&O & AcreS, while CMS & CBRE acted as the buyer's representatives.
Summary of transaction details
- Property Type: Office
- Transaction Amount: £100,000,000
- Market: Birmingham
- Address: 55 Colmore Row
The buyer in this transaction, Wolfgang Kessler, was represented by CMS & CBRE. Nuveen Real Estate, the seller, was represented by A&O & AcreS. The deal marks a significant transaction in the Birmingham office market, further highlighting the robustness and attractiveness of the real estate sector in the area.
Players
Birmingham Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93