Hermes and Canada Pension Plan Investment Board are under offer to buy One America Square, EC3, from Blackstone.
The joint venture partners have agreed a deal for the 226,000 sq ft art deco City landmark at a price slightly below the £150m asking.
The sale will crystalise a significant premium for the US private equity giant, which bought One America Square for £85m – an 8.5% yield – in 2013.
In the intervening period it has undertaken a range of asset management initiatives that have attracted new tenants including Chubb Insurance, which signed for 44,000 sq ft at the start of this year.
Other tenants include shipping firm Golar LNG and insurer BMS Special Risk Services.
The sale comes amid a flurry of investment activity in the City. Major assets including Aldgate Tower, E1, the High Holborn Estate, WC1, Thames Court, EC4, Bloomberg Place, EC4, and Thomas More Square, E1, are all close to being sold.
BNP Paribas Real Estate is acting for the purchasers; GM Real Estate and Knight Frank advised Blackstone.
