SEB Asset Management has acquired an office building in Birmingham for the open-ended real estate fund SEB Immoinvest. The total investment costs come to EUR 35.1 mln.
SEB Asset Management has acquired an office building in Birmingham for the open-ended real estate fund SEB Immoinvest. The total investment costs come to EUR 35.1 mln.
The 5,890-m2 Class-A property is leased until April 2022 to the Royal Bank of Scotland. The vendor was The Equitable Life Assurance Society, a British life insurance group, which was represented by Invista Real Estate Investment Management.
SEB Immoinvest was launched in 1989 as a traditional total return fund with a global investment approach. Including this acquisition in the UK, the open-ended real estate fund now has 150 properties in 19 countries. Total fund assets come to about EUR 6.2 bn.