Infamous London Property Sold

The Vatican has sold the luxury London building at the centre of an ongoing corruption trial for $223.6M (€216M) (Vatican statement, July 1).

Losses from the deal were covered by Vatican reserve funds, not the Peter's Pence. But this constitutes only a cosmetic difference.

The property venture began in 2014, when the Vatican's Secretariat of State bought the building for $390M (€350M). The new owner is Bain Capital, a $155B Boston-based investment company.

Picture: © Never House, CC BY-NC-ND, #newsNibujjkmrl

Wilma Lopez shares this
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So that’s a final loss on the London building of about… €136m?