A 260.000 sqft London office project owned by Goldman Sachs Asset Management sustainable real estate developer EDGE has secured funding from Local Pensions Partnership Investments (LPPI) and The London Fund.
Back in January, Goldman Sachs acquired a 75% stake in the EDGE London Bridge development as it teamed up with EDGE develop the project.
Local government pension scheme-backed LPPI and The London Fund have now disclosed they will own the 75% stake in the project together with Goldman Sachs as funding partners, with the remainder owned by Edge.
The joint venture partners have also appointed Mace as the general contractor for the project which is reported to cost over €571 million. The 28-storey development in St Thomas Street, London Bridge is due to complete in 2026.
EDGE specialises in developing sustainable, office assets that make extensive use of smart technologies. The company and Goldman Sachs have both have worked together in the Netherlands on a number of projects since 2013.
The EDGE London Bridge development will be the companies first UK joint venture.
Source: https://realassets.ipe.com/news/edge-london-bridge-office-development-secures-lgps-funding/10062569.article, on 13 October 2022