{"id":1004392088,"date":"2020-02-18T05:17:08","date_gmt":"2020-02-18T13:17:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004392088"},"modified":"2020-02-19T06:49:29","modified_gmt":"2020-02-19T14:49:29","slug":"cara-buys-central-london-building-for-93m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/","title":{"rendered":"Cara Buys Central London Building for $93M"},"content":{"rendered":"
\"7-10<\/a>

7-10 Waterloo Place. Image courtesy of Barings<\/em><\/p><\/div>\n

Cara Real Estate\u2014the real estate subsidiary of Cara Investment GmbH\u2014has purchased 7-10 Waterloo Place, a 35,000-square-foot mixed-use building in London, from Barings for a reported \u00a371 million, or $92.5 million. Barings had paid \u00a335 million, or $45.6 million, in 2014 for the Grade II-listed property on behalf of an institutional investor, which subsequently started a substantial renovations program.<\/p>\n

The deal marks Cara\u2019s second London acquisition. In 2018, the Frankfurt-based investor acquired 20 Soho Square, W1, for \u00a3117 million, or $152.5 million.<\/p>\n

A spokesperson for Barings\u2014a subsidiary of MassMutual Financial Group\u2014was unable to provide additional information requested by Commercial Property Executive<\/em> as of press time.<\/p>\n

A hazy market<\/h2>\n

Absorption in the Central London office market in the fourth quarter was almost 3 million square feet, or consistent with the market\u2019s five-year average, according to a fourth-quarter report from Cushman & Wakefield. Investment volume, however, was about 30 percent below the five-year average. The report also notes that, although both leasing and preleasing remain strong, the Central London office supply has inched up to 13.6 million square feet.<\/p>\n

Exactly a year ago, Cara Investment bought<\/a> an approximately 75,000-square-foot mixed-use property at Zero Bond St. in Manhattan from Paramount Group for $130.5 million. The fully leased retail-and-office asset is adjacent to the NYU campus.<\/p>\n

As for Barings, just last month, in a partnership with B&Z Development, the firm broke ground<\/a> on an almost 120,000-square-foot speculative Class A office building at 701 Rio in downtown Austin, Texas.<\/p>\n","protected":false},"excerpt":{"rendered":"

The firm acquired a Waterloo Place mixed-use asset at a time when values might be hitting a transition point.<\/p>\n","protected":false},"author":882,"featured_media":1004392817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,16,21783,21752,21742],"tags":[34275,32799,43421],"class_list":["post-1004392088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-international","category-investment","category-mixed-use","category-latest","tag-barings","tag-cushman-wakefield","tag-massmutual-financial-group"],"acf":[],"yoast_head":"\nCara Buys Central London Building for $93M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cara Buys Central London Building for $93M\" \/>\n<meta property=\"og:description\" content=\"The firm acquired a Waterloo Place mixed-use asset at a time when values might be hitting a transition point.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-18T13:17:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-19T14:49:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/7-10-Waterloo-Place.-Image-courtesy-of-Barings.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/\",\"name\":\"Cara Buys Central London Building for $93M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/7-10-Waterloo-Place.-Image-courtesy-of-Barings.jpg\",\"datePublished\":\"2020-02-18T13:17:08+00:00\",\"dateModified\":\"2020-02-19T14:49:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cara-buys-central-london-building-for-93m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/7-10-Waterloo-Place.-Image-courtesy-of-Barings.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/7-10-Waterloo-Place.-Image-courtesy-of-Barings.jpg\",\"width\":800,\"height\":620,\"caption\":\"7-10 Waterloo Place. 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