BUSINESS

Ivanhoe Cambridge buys office building in London business district

03/10/2015 09:11 EDT | Updated 05/10/2015 05:59 EDT
MONTREAL - Ivanhoe Cambridge is buying a London office property for the equivalent of about C$323.3 million.

The property, known as 3 Minster Court, was built in the 1990s in a historic business district of London.

The Montreal-based real estate company, an arm of the Caisse de depot, says the 170-million pound acquisition fits its goal of building a critical mass of high-quality assets in London.

The property being acquired is part of a multi-building complex developed by The Prudential. The neo-gothic property is leased to London Underwriting Centre.

Ivanhoe Cambridge holds about $42 billion of assets, mainly in Canada, the United States, Europe, Brazil, Mexico and Asia.

Note to readers: This is a corrected story. An earlier version misspelled Minster. The word million was also missing from the value of the deal in pounds.