Real Estate
Norway Wealth Fund Buys £306 Million Property Stake in Mayfair
- Norges Bank entered into a joint venture with Grosvenor
- Mixed-use portfolio mainly consists of office, retail assets
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Norway’s sovereign wealth fund paid about £306 million ($378 million) for a stake in a portfolio of office and retail properties in London’s high-end Mayfair district.
Norges Bank Investment Management entered into a joint venture with Grosvenor, acquiring a 25% stake in a roughly £1.2 billion portfolio of 175 buildings around Grosvenor Street and Mount Street, Grosvenor said in an emailed statement Wednesday.