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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Azeri State Oil Fund buys Paris real estate for $179 mln

Posted on 21 December 2012

Azerbaijan’s State Oil Fund, known as Sofaz, bought an office and retail property in Paris for 135 euros ($179 million), its second real estate investment in a week as it seeks to diversify reserves. The property, 8 Place Vendome, was purchased from AXA Real Estate (AXAEDAC) and has a total area of 5,400 square meters (58,125 square feet), Sofaz said today in an e-mailed statement.
“With these recent real estate transactions, Sofaz has established its presence in two main commercial centers of Europe –- London and Paris,” Israfil Mammadov, the fund’s chief investment officer, said……………………………………….Full Article: Source


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