Transactions - NOVEMBER 6, 2014

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NBIM invests in London office property

by Andrea Waitrovich

Norges Bank Investment Management, which invests on behalf of Norway’s Government Pension Fund Global, has purchased another asset in London.

NBIM is under contract to purchase the Queensberry House, located at 3 Old Burlington St., in London. The sales price for the 241,352-square-foot office building is estimated to be £190 million, or £787 per square foot ($303.6 million/$1,258 per square foot). 

The seller is Sorgente SGR, a Rome-based international real estate and asset manager, which purchased the property in 2012 for £167.57 million ($266 million). Knight Frank acted as the seller’s broker.

Queensberry House is located in the heart of London’s Mayfair district. It has a dual frontage to Old Burlington Street and Savile Row. Comprising 67,785 square feet of cl

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