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One Eleven Edmund Street, Birmingham

One Eleven Edmund Street, Birmingham
One Eleven Edmund Street, Birmingham

GBR Phoenix Beard has advised Hines’ Pan-European Core Fund (HECF) on its acquisition of One Eleven Edmund Street, a prime office building in Birmingham from German real estate fund IVG Institutional Funds. One Eleven Edmund Street is a 44, 000 sq ft grade A office building let to Gateley LLP. Financials on the deal were not disclosed. Through other entities, Hines also owns two other properties in Birmingham, Brindleyplace and Two Snowhill. Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. With offices in 106 cities in 17 countries, and controlled assets valued at approximately $23.7 billion, Hines is one of the largest real estate organizations in the world.

Hines are active in the central Birmingham office market and had a requirement to invest in a well-let office investment for HECF. Although we had considered One Eleven Edmund Street previously, GBR Phoenix Beard knew the tenant Gateley LLP and were able to re-gear the Gateley lease, such that the investment characteristics of the asset matched our Fund’s requirements. GBR Phoenix Beard’s knowledge of the Birmingham office market, both from an occupier and investor’s perspective, was outstanding. We are delighted to acquire HECF’s first office investment in Birmingham. This is a high-quality building in a great location, and Gateley is a successful and highly respected company,”

                                                                                                                                                                  Anthony Leonard, Hines UK

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