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Brookfield In Talks To Buy London’s CityPoint Tower For Nearly $732M


Brookfield Asset Management is in talks to acquire London’s CityPoint Tower, a 36-story office building in London’s financial district that will likely sell for under $732M, people close to the deal tell Bloomberg.

Back in 2014, Brookfield bought one of several loans totaling roughly $522M linked to CityPoint Tower. A Beacon Capital Partners fund had defaulted on the loans in 2012.

Brookfield owns 12 businesses in the UK and CEO Bruce Flatt said the company is committed to London real estate despite the uncertainties facing businesses following the Brexit vote. The acquisition of CityPoint would be the largest UK commercial property deal reached this year, according to real estate broker Savills Plc. [Bloomberg]