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Bahrain-based Al Salam Bank has bought a prime real estate office building, Milton Gate, in the City of London.
The seven-storey 200,000-plus sq/feet building was acquired in an off-the-market transaction in partnership with the privately-owned Investment Banking and Private Equity group, Evans Randall.
The landmark building is located in the financial district in close proximity to the Bank of England and other prestigious financial institutions, including JP Morgan and UBS and solicitors, Slaughter & May and Linklaters.
Milton Gate has been bought fromUBS Triton Fund.
It is a well-let building on a long-term non-cancellable lease of 15 years.
Al Salam Bank-Bahrain director and chief executive officer Yousif Abdulla Taqi said: "This is a significant achievement for the Bank in a market where both liquidity and financing is difficult. The bank is pleased to present this high-yield investment opportunity to investors."
