Norway’s Wealth Fund Buys 25% Stake in London Property
Norway’s sovereign wealth fund has announced the acquisition of a 25% stake in a mixed-use property portfolio located in London's prestigious Mayfair district for 305.7 million pounds. The portfolio spans 2.3 million square feet, primarily consisting of office and retail assets around Grosvenor Street and Mount Street.
Grosvenor, a leading real estate group, sold the stake but retains a 75% interest in the portfolio. The group will continue to manage the properties, ensuring ongoing control over the assets.
The transaction values the entire property portfolio at 1.223 billion pounds.
"Grosvenor will continue to manage the properties," the Norwegian fund stated in its release.
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