Crown Estate JVs purchase two London retail properties for $1.2b
The Crown Estate and its partners have completed two separate London acquisitions, totaling $1.2 billion in sales price.
The Crown Estate and its partner Norges Bank Investment Management have purchased two famous London streets in the West End for $576 million. NBIM, which invests on behalf of Norway’s Government Pension Fund Global, bought a 57.8 percent stake and The Crown Estate owns a 6.4 percent stake. The seller was Church Commissioners for England.
Savile Row and Cork Street are part of the Pollen Family’s estate. The four-acre asset dates back to 1622. It is made up of 43 retail and office buildings between Regent Street and Bond Street. The buildings will continued be managed by the trustee company.
This year, Norway’s sovereign wealth fund