Time Inc. in SLB to Oxford Properties JV
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The property was developed as part of the Bankside 123 project.
LONDON—A joint venture of Oxford Properties and Temasek is acquiring the Blue Fin Building here from a subsidiary of Time Inc. in a sale-leaseback. The 497,021-square- foot office property is changing hands for £415 million, or approximately US$640.4 million.
“The Blue Fin Building is an iconic asset located in the heart of London’s vibrant South Bank district and is a great addition to Oxford’s European portfolio, which now stands at over C$7 billion in assets under management in London and Paris,” says Paul Brundage, EVP of Oxford Properies Europe. “This transaction reinforces Oxford’s belief that specific emerging ‘live-work-play’ destinations will outperform over time as a result of infrastructure improvements and shifting occupier dynamics.”…
Time Inc. in SLB to Oxford Properties JV
