Six buildings at Brindleyplace have been bought by part of HSBC’s Private Bank in a deal understood to be for more than £260m.
HSBC Alternative Investments (HAIL) has taken ownership of 500,000 sq ft of mixed use space at the Birmingham city centre development.
Hines and Moorfield paid £190m to the Brindleyplace Partnership in 2010, with Lone Star acquiring Moorfield’s share as part of a bigger deal in 2014.
The joint venture owners had been looking for a buyer at around £290m since mid-2015 and a deal with a Middle Eastern investor reportedly fell through a year ago.
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