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German fund manager KanAm has sold two office properties in London to Malaysian investment fund Permodalan Nasional Berhad (PNB), a spokesman for the company confirmed to PropertyEU on Wednesday. He declined to provide financial details.

The assets are One Exchange Square in London's City financial district, which houses the headquarters of the European Bank for Reconstruction and Development, and 90 High Holborn, which is leased to law firm Olswang Solicitors. KanAm was advised on the deal by Knight Frank.

In January, PropertyEU reported that PNB was poised to acquire three office assets in London from Munich-based KanAm for about £750 mln (EUR 895 mln). The third asset - besides One Exchange Square and 90 High Holborn - was believed to be Thompson Reuters' HQ at Canary Wharf.

The latest acquisitions are the second and third to be carried out by the Malaysian fund in London following the purchase of 1 Silk Street from US investor Beacon Capital for £350 mln earlier this year.

Last year KanAm, which is retreating to Continental Europe, put a four-asset London office HQ portfolio, valued at £1 bn, on the market in order to raise money to repay investors who want to pull out of Kanam's open-ended fund business.

PNB is a EUR 47 bn unit trust manager that invests on behalf of Malaysia's indigenous Bumiputera people.