CB Richard Ellis Group, Inc. today announced that it arranged what it is calling the largest commercial property transaction in United Kingdom history.
The commercial real estate services firm said its London-based Capital Markets Group advised Abbey National PLC, a subsidiary of Spanish bank Grupo Santander, in the sale of its 128-property UK commercial portfolio to ING Real Estate Investment Management Ltd. for approximately $2.2 billion.
The sale marked the UK's largest commercial property transaction, L.A.-based CB Richard Ellis said in a statement.
The 6.5-million-square-foot portfolio, which is currently 85 percent leased, is comprised of retail, office, industrial and other mixed-use properties located throughout Great Britain.
CB Richard Ellis completed the transaction through a coordinated effort involving multiple business lines.
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