Oil Fund makes over one billion kroner property investment in London
The Oil Fund has bought into a property in London.
According to a press release, the fund paid £112.5 million, or NOK 1.1 billion, for a further 25% stake in 20 Air Street in the center of the British capital city. This corresponds to approximately NOK 4.5 billion on a 100% basis.
The property comprises around 25,000 square metres (30,000 square yards) of office and retail space, in addition to nine flats.
In total, approximately 2.5% of the oil fund is invested in unlisted real estate.
The oil fund has a value of approximately NOK 7,700 billion.
© NTB Scanpix / Norway Today
