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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Market

Azerbaijan’s Paris, Moscow buys take European RE over EUR450mln

Posted on 07 January 2013

The State Oil Fund of Azerbaijan, the Caspian Sea nation’s €34bn sovereign wealth fund, has announced real estate acquisitions in Paris and Moscow, adding to a purchase in London to bring 2012 European property commitments to around €454m, one-quarter of its permitted allocation.
In France SOFAZ agreed in December to pay €135m to buy 8 Place Vendôme, a prestigious Paris prime office and retail property, from AXA Real Estate Investment Managers. The office, retail and residential space is located in an iconic 18th century mansion and an office building from the 1950s………………………………………..Full Article: Source


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