Covent Garden Market in London
Julian Elliott Photography | Stone | Getty Images
The Norwegian Sovereign Wealth Fund in the amount of $ 1.8 trillion – the largest of its kind in the world – said on Thursday that he had achieved a job to buy a quarter of a portfolio of property in London’s iconic Covent Garden, in the last bet on the premium premium real estate in the UK.
In the new joint investment, the manager of the Norma Bank Investment Management Fund (NBIM) said It will pay £ 570 million ($ 739 million) for 25% of the British Property Programsbury Capital’s Portfolio Property in London, which as a whole contract is valid in the amount of £ 2.7 billion.
NBIM said a portfolio consists of 1.5 million square meters, predominantly used in retail and leisure time, within London County Covent Garden and seven choices.
Shaftesbury Capital sections in the London census jumped almost 16% on the open market before it was slightly aligned. The shares are last by 8.9% to 9:55 pm in London.
“This investment emphasizes our belief in the power of London with a portfolio supplemented by our second quality investment in West End,” Jayesh Patel, head of real estate in the UK in the NBI, said in a statement of Jayesh Patel.
This is followed by an investment of £ 306 million of the Norwegian State Wealth Fund for 25% in the Duke of the Duke of Westminster Grosvenor in January.
The joint investment, which was re -assigned to the NBIM 25% of the stake, was worth £ 1.2 billion and marked the largest sale to external investors in the historical estate of Mayfair Grosvenor.
Two bids this year bring the total investment of the London wealth fund at £ 876 million.
NBIM also said on Thursday that it was agreed Pay € 240 million for 40% of Axa Lifestyle Housing, the owner and operator of student residential and co-owned real estate in Spain and France.
