Transactions - JULY 23, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Norway’s SWF pays nearly $1.2b for two assets

by Andrea Waitrovich

Norges Bank Investment Management, which invests on behalf of Norway’s Government Pension Fund Global, has two pending deals in Boston and Paris for a total investment of approximately $1.15 billion.

This year the sovereign wealth fund announced plans to increase its allocations to real estate from 1.2 percent to 5 percent.

To go along its investments plans, NBIM is purchasing Le Madeleine, a 318,691-square-foot office complex in Paris. The sales price is rumored to be approximately $586.5 million, or $1,835 per square foot. The seller of the six-story property was BlackRock Real Estate.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy