Starwood Capital has agreed to buy the landmark Southbank Central development close to the Thames for more than £250m, according to two people briefed on the situation.
It exchanged contracts last week with vendors Hermes Investment Management and the Canada Pension Plan Investment Board to buy Southbank Central, a recently redeveloped site previously known as South Bank Tower and before that King’s Reach Tower.
It is the latest in a string of UK property purchases this year by the US private equity firm, which specialises in alternative investments including real estate.
