Brookfield mulls buyout of London Wall Place

Brookfield is understood to be in talks to buy out Oxford Properties’ 50% leasehold stake in the recently completed £700m office development London Wall Place, EC2. Oxford Properties, the real estate arm of Canadian pension fund Omers, entered into a joint venture with New York-listed Brookfield to develop the 500,000 sq ft scheme in 2012. Tenants at London Wall Place include Schroders, which prelet the whole 310,000 sq ft 1 London Wall Place block in 2014. At 2 London Wall Place, tenants include US law firm Cleary Gottlieb, which occupies the top four floors, global investment manager IFM Global Funds, UK consultancy Barnett Waddingham, and Italian investment bank Mittel. The City of London Corporation owns the freehold of the site. Brookfield and Oxford Properties both declined to comment. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette