Brookfield is in discussions to buy the long leasehold on 20 Churchill Place in Canary Wharf, E14, from M&G.
The leasehold was put up for sale with JLL in January last year with a price tag of £300m, reflecting a yield of 4.5%.
The 16-storey office block’s tenants include the European headquarters of US bank State Street Bank and Trust, law firm Clifford Chance and Japanese container and shipping company Ocean Network Express.
Prudential Retirement Income acquired the long leasehold from Canary Wharf Group in 2006 for just under £200m. It was Prudential’s first investment in Canary Wharf.
Brookfield, M&G and JLL declined to comment.
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