Ares Buys Netflix’s London Office in £160 Million Deal (1)

Ares Management Corp. has bought a London building occupied by Netflix as the alternative investment manager continues its bet on the office market in the British capital.

The Los Angeles-based firm has purchased the Copyright Building at 30 Berners Street in the Fitzrovia area for about £160 million ($216 million), people familiar with the matter said, asking not to be identified discussing private information. That price is little less than what the German fund manager, Union Investment, paid for the property in 2017.

The building is leased to Capita Business Services, which has in turn sublet the entirety of its ...