Crosstree Real Estate Partners has acquired London-focused serviced office business Argyll from Alpine Grove Partners and The Baupost Group.
Argyll, which was founded more than 25 years ago, operates 25 assets across London and offers a range of exclusive private offices, co-working spaces, virtual office services and meeting spaces. Ten of the assets in the portfolio are owned outright by the business.
Nick Lyle, founding partner at Crosstree Real Estate Partners, said: “We are excited to acquire a market-leading platform underpinned by best-in-class prime assets with a proven ability to operate through a number of office market cycles. We look forward to working with the experienced management team to grow the business against the backdrop of a Central London prime office market that has recovered strongly since the end of the pandemic. We expect continued strong momentum for prime offices driven by further ‘flight to quality’ by occupiers and limited new supply.”
Crosstree was advised by JLL and Alpine and Baupost were advised by Eastdil Secured and Evercore.
