Tikehau Capital to acquire Pall Mall building in London in partnership with Best Star Real Estate Fedaia

FEDAIA PARTNERS LLP

Tikehau Capital to acquire Pall Mall building in London in

partnership with Best Star Real Estate Fedaia

• The site is a well-located office asset in the centre of one of London's premier areas, the St James's submarket.
• Tikehau Capital acquired its majority share in the asset through its Real Estate Value-Add fund.

London, 26 October 2021- Tikehau Capital, the global alternative asset management group, in a joint-venture with Best Star Real Estate Fedaia ("BSREF"), a partnership between Best Star Real Estate and Fedaia Partners, today announces the acquisition of the leasehold interest at 83-85 Pall Mall, London.

The c. 45,000 sq ft (4,180 sqm) Grade II listed building, located adjacent to the Royal Automobile Club on Pall Mall, has been acquired from Railpen, the investment manager for the railways pensions scheme. The Royal Automobile Club is the only current tenant in the building, occupying the 4th floor.

Tikehau Capital and BSREF plan to upgrade the asset into a grade A / energy efficient office building, targeting market leading green certifications, to cater to range of occupiers looking for quality space in one of the most sought-after London's submarkets.

This transaction represents the fourth UK acquisition by Tikehau Capital Real Estate Value-Add fund, Tikehau Real Estate Opportunities 2018, and the first JV acquisition by Tikehau Capital with BSREF.

Frédéric Jariel, Co-head of Real Estate at Tikehau Capital stated: "We are pleased to acquire 83-85Pall Mall which offers a rare opportunity of office repositioning in a supply-constrainedmarket and prime location. As the occupier market continues to recover, we believe the demand for quality office space that can better accommodate evolving tenant needs will be stronger. On a relative basis, we believe that the central London office supply and demand dynamics and investment momentum offer an opportunity for capital value appreciation with attractive risk adjusted returns."

Carmen Alonso, Head of the United Kingdom and Iberia at Tikehau Capital added: "We are pleased to announce this investment in London, which represents a great addition to our existing real estate portfolio and, more importantly, demonstrates Tikehau Capital's commitment to the UK real estate market and the office sub-segmentin particular".

BSREF's George Adamopoulos and Pietro Stella said: "We are delighted to have partnered with Tikehau Capital for the acquisition of 83-85Pall Mall. The property offers a rare opportunity to redevelop an iconic building in one of the most recognisable and prestigious office addresses globally. This acquisition further solidifies our track record and capability to pursue value-addopportunities in

Central London. We look forward to working together to deliver on our repositioning plan for 83-85 Pall Mall."

The transaction concludes Railpen's 15-year ownership of the asset. During this period, Railpen has undertaken various value enhancing asset management initiatives, including a head lease regear with The Crown Estate and a rolling refurbishment.

Best Star Real Estate and Tikehau Capital were advised by Savills and DWF. Railpen was advised by CBRE and Mills & Reeve.

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About Tikehau Capital

Tikehau Capital is a global alternative asset management group with €30.9 billion of assets under management (as of 30 June 2021). Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies.

Tikehau Capital is a founder led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society.

Leveraging its strong equity base (€2.9 billion of shareholders' equity as of 30 June 2021), the firm invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 629 employees (as of 30 June 2021) across its 12 offices in Europe, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP).

For more information, please visit: www.tikehaucapital.com

Press contactsTikehau Capital

UK - Prosek Partners: Henrietta Dehn - [phone] [e-mail]

About Best Star Real Estate Fedaia

BSREF is a partnership between Best Star Real Estate and Fedaia Partners. BSREF is an opportunistic real estate development and investment business which focuses on the origination and execution of value add and opportunistic strategies in Central London. Through its combined expertise in development, real estate private equity, and special situations, BSREF has a proven track record in unlocking value across all real estate asset classes.

Disclaimer

This document does not constitute an offer of securities for sale or investment advisory services. It contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future earnings and profit, and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties. Actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital's advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.