MetLife and TH Real Estate are to provide a joint loan of £274.1m to a consortium of investors led by GAW Capital to buy 123 and 151 Buckingham Palace Road, W1.
MetLife will provide £149.5m and TH Real Estate, acting on behalf of TIAA-CREF, will advance £124.6m for the properties, which have a yield of 5%.
The term of the fixed-rate loan is 10 years and loan-to-value ratio is 55%.
The properties are adjacent to each other and provide 480,000 sq ft of office space.
About 97% of the income on 123 Buckingham Palace Road comes from tenants Google, PA Consulting, Eni and Sky Media.
Peng Han Lee of Gaw Capital Partners said: “This is a rare and wonderful opportunity to reunite such a large estate in a prime area of London’s West End after two decades of separate ownership.”
