The Core Plus Fund CPP IV, advised by Tristan Capital Partners, has purchased One
Stratford Place, E15, for £70m.
It was reported in September that Schroders was under offer on the asset for the same amount, however the deal fell through.
The 127,009 sq ft property was developed in 2011 and sits above the eastern part of the Westfield Stratford shopping centre, adjacent to Stratford station.
The building is let to Network Rail, London Legacy Development Corporation and Coral Racing at an average rent of £33.50 pers sq ft.
The acquisition is the first transaction for the fund, which held its first close in late 2014, attracting approximately £220m in commitments.
The fund has appointed Alchemy Asset Management as partner. Allen and Overy acted as legal advisors to the fund.
