A London office building bought for £410M just five years ago has been put into receivership after a loan secured against it was not repaid when it matured.
Partners at Alvarez & Marsal have been appointed fixed charged receivers over the special-purpose vehicle that owns 20 Canada Square in Canary Wharf, Mingtiandi reported.
The 581K SF building was bought by Hong Kong investment firm Cheung Kei for £410M in 2017, but BP, one of the two main tenants, is exiting the building.
JLL was appointed to sell the building earlier this year, with a guide price of £250M, Bloomberg reported, and it has a…