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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Norwegian wealth fund buys stake in French properties

Posted on 06 July 2011

In a deal that demonstrates Norway’s intention to continue investing in European real estate, the $584 billion Norwegian sovereign-wealth fund has closed its second major European property deal within a year with the purchase of a stake in seven French office properties valued at €1.4 billion ($2.04 billion).
Norges Bank Investment Management said it agreed to pay €702.5 million for a 50% stake in seven properties, including office buildings in the upscale Champs-Elysees district and La Defense, a growing business district on the edge of Paris……………………………………….Full Article: Source


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