Norway's Major Investment in London Real Estate

Norway's sovereign wealth fund has acquired a 25% stake in a London property portfolio for 570 million pounds through a joint venture with Shaftesbury Capital. The portfolio is valued at 2.66 billion pounds, with Shaftesbury Capital owning the remaining 75%. No financing was involved in the transaction.

Norway's sovereign wealth fund has announced the acquisition of a significant 25% stake in a London-based property portfolio, in collaboration with Shaftesbury Capital. The transaction, valued at 570 million pounds, marks a strategic move by the fund to diversify its assets.

Norges Bank Investment Management (NBIM) stated that the portfolio carries an existing debt of 380 million pounds. Despite this, no new financing forms part of the agreement, ensuring a robust financial structure for the collaboration.

Scheduled for completion in early April, the deal highlights Norway's continued interest in high-value real estate investments, consolidating a noteworthy valuation of 2.66 billion pounds for the portfolio.

(With inputs from agencies.)