Korean insurer Dongbu is one of the cornerstone investors in the £205m purchase of Tower Bridge House, E1.
In its first UK investment, the company is one of a group of Korean insurers behind the deal, which is yielding 4.5%. The transaction is being fronted by South Korean asset manager Mirae Asset Global Investments, advised by Colliers International.
The office building is being sold by Malaysian sovereign wealth giant Employees Provident Fund.
EPF instructed Savills in January to sell Tower Bridge House alongside 11-12 St James’s Square, SW1, which sold to Chinese Estates for £180m, beating competition from Pacific Eagle and Hong Kong investor Emperor Group.
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