Brookfield Near Deal to Sell London’s CityPoint Office Tower (1)

Brookfield Corp. is in exclusive negotiations to sell London’s CityPoint tower for roughly the value of the outstanding debt secured against it, a deal that would signal new confidence in London’s office market.

London-based private equity firm Castleforge is in talks to acquire the 36-story building for about £455 million ($625 million), according to people with knowledge of the matter, who asked not to be identified as the negotiations are private.

That’s roughly in line with the debt package secured against the property, which includes both commercial mortgage backed securities and a junior loan facility, the people said.

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