Beltane and TPG Angelo Gordon acquire 10 Old Burlington Street from Old Burlington Limited

Beltane Asset Management (Beltane) and TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG Inc. (NASDAQ: TPG) today announced they have exchanged contracts to acquire the long leasehold interest in 10 Old Burlington Street, a trophy headquarter asset in London’s Mayfair. The off-market acquisition, the second in partnership with Almira, adds to Beltane and TPG Angelo Gordon’s growing pipeline of office assets in prime locations. This follows the recent announcement of the firms’ acquisition of Fitzroy House and the successful leasing of their Marylebone Place scheme to Union Bancaire Privée (UBP).

10 Old Burlington Street is entirely let to Millennium Capital Management, one of the world’s largest investment managers. The triple aspect building provides approximately 40,000 sq ft of Grade A office space, with abundant natural light and prominent frontages to Old Burlington Street, Clifford Street and Savile Row. 

Duncan Roe, Partner at Beltane, said:

“We are delighted to have exchanged contracts to purchase 10 Old Burlington Street, marking our first foray into Mayfair. We continue to explore opportunities in super-prime locations alongside our long-term partners at TPG Angelo Gordon, with a number of exciting prospects currently being considered.”

RX London acted for Beltane and TPG Angelo Gordon; Michael Elliott acted for Old Burlington Limited.