Norway's wealth fund acquired an additional 25 percent interest in a London property for 112.5 million pounds ($145.7 million), the sovereign wealth fund's operator, Norges Bank Investment Management (NBIM) announced on Monday.
The bank said that Norges Bank Real Estate Management expanded its partnership with the Crown Estate and the deal brings fund's total share up to 50 percent in London property.
It noted that the agreement was completed on September 1st, 2017.
Norges Bank Real Estate Management purchased the initial 25 percent interest in December 2013.
The property comprises 270,000 square feet of office and retail space, and nine residential units.
The Crown Estate has retained a 50 percent interest and will continue to manage the property on behalf of the partnership.
Norway, Europe’s largest oil producer and the world’s third-largest natural gas exporter after Russia and Qatar, holds the fund currently worth more than $980 billion.
(Anadolu Agency)
