Brazillion billionaire Joseph Safra’s companies, The Safra Group, have shelled out over $1 billion to acquire 30 St. Mary Axe in London, known as “The Gherkin” due to its distinctive shape. Bloomberg has published a report stating that the company, which is based in Sao Paulo, has paid approximately $1.2 billion for the property.
The Gherkin was put on the market earlier this year. The previous owners, IVG IVG Immobilien AG and Evans Randall Ltd. were unable to make loan repayments.
The Gherkin was designed by Normal Foster and Arup Group. At 590 feet tall, the 41 story structure has the distinction of being the second-tallest building in London’s Financial District and the sixth tallest one in London. It has approximately 538,000 square feet of office space and is home to several well-known tenants, including Standard Life, Kirkland and Ellis, Swiss Re and ION Trading.
The purchase of The Gherkin is The Safra Group’s first acquisition in the United Kingdom’s commercial property market. The company does have holdings in Europe, Asia, Latin America, the Middle East, and the Caribbean. Company chairman, Joseph Safra, is ranked at No. 64 on Forbes’ list of billionaires, and his net worth is estimated at $14.9 billion. The Safra Group has recently made public details of its $1.3 billion deal t acquire the US banana company Chiquita in a partnership with the Brazil-based juice company Cutrale.
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