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Westbrooke Alternative Asset Management UK Limited in partnership with Argo Real Estate Limited and the Townsend Group are pleased to announce the acquisition of the Baltic Exchange, 38 St Mary Axe – a Grade II listed 41,000 sq ft property located adjacent to the iconic Gherkin (30 St Mary Axe) in the heart of the City of London.

The seller is the Baltic Exchange Limited, a Singapore-based maritime company, owned by the Singapore Exchange Limited. The buyer plans to sensitively refurbish the building into A-grade office space targeting best in class environmental credentials and on completion of the works will grant the Baltic Exchange an occupational lease over the second floor. Stone Real Estate originated the transaction and will act as the development manager in partnership with Argo.

About Westbrooke

Founded in 2004, Westbrooke was established as a multi-asset, multi-strategy manager of alternative investment funds and products. Westbrooke invests and manages capital in multiple geographies on behalf of its shareholders and investors in private equity, venture capital, private debt, hybrid equity and real estate.

Westbrooke manages significant shareholder and investor capital invested predominantly in South Africa, the UK and USA. The Westbrooke team is comprised of experienced entrepreneurs and investment professionals who apply a broad range of experience and skills to deliver investment opportunities which offer a simple investable outcome – predictable, sustainable, risk managed long term returns for investors in an increasingly complex environment.

About Argo

Argo, founded in 2013, is a niche and dynamic UK real estate investment company with two distinct real estate strategies, the Argo Property Portfolio (“APP”) and a bespoke opportunistic value-add real estate strategy. The APP strategy focuses on transactions above £10m and aims to generate sustainable income distributions and capital growth over the long term through strategic investing and value-add through active management. Argo’s bespoke opportunistic strategy aims to tailor opportunities to their range of investors, ranging from trading opportunities to longer term positions.

Collectively, Westbrooke and Argo have a strong real estate investing track record across the capital stack, having collectively completed over 50 transactions within the United Kingdom and central Europe.


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