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Ivanhoé Cambridge, Oxford Strike Deals for Towers of London


It was a busy week for Canadian pension funds in the British capital. Ivanhoé Cambridge announced its acquisition of 21 Lombard St, a 116k SF building in the City of London, from an undisclosed seller for $240M. The property (above), leased entirely to UBS, is the third London office building acquired by Ivanhoé in under six months. Meanwhile, Oxford Properties Group and Brockton Capital announced a JV to redevelop 21-31 New Oxford St, formerly a Royal Mail sorting office, into a 320k SF mixed-use complex. This is Oxford’s fifth development deal in London. (Our request to interview the new royal baby about the deal was denied.)