The real estate arm of Italian insurer Generali has announced the sale of a 50% interest in Fen Court, a landmark office building in the City of London. As part of the deal, Generali Real Estate, on behalf of Generali Group companies, transferred ownership of the asset to a new special purpose vehicle with German asset manager Meag, active on behalf of Munich Re, buying a 50% share.
The Generali Group will continue to hold 50% in the same vehicle, which is invested by Generali Group companies, and Generali Real Estate will continue to act as asset manager. Munich Re will be both a co-investor alongside the Generali Group, and an occupier of Fen Court, with two floors (2nd and 3rd floor) of the property becoming its new London headquarters.
Source: https://propertyeu.info/Nieuws/Generali-sheds-50-stake-in-London-s-Fen-Court-scheme/4b4dd501-658b-46ef-bb4a-8df3db004a45, on 23.02.2023