Norway's wealth fund buys property in Paris for US$473m
[OSLO] Norway's sovereign wealth fund agreed to buy an office property in central Paris for US$473 million as it continues to expand its global real estate holdings.
The fund agreed to buy a 100 per cent interest in the property at 54-56 rue la Boetie in central Paris, Norges Bank Real Estate Management said. The purchase was made in cash.
The seller of the property is IGIS Global Private Placement Real Estate Fund Number 37-1, a South Korean mutual fund. The property is made up of 20,400 square meters of office space.
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty
Freddie Mac seeks regulatory approval to back home-equity loans
China national fined S$45,000 for having Singaporeans front plan to buy East Coast houses
Condo rents inch up after 7-month decline; volumes recover: SRX, 99.co
Apple to invest US$250 million into expanding Ang Mo Kio campus