trending Market Intelligence /marketintelligence/en/news-insights/trending/2UyIc0b__lpx5S4BTxYkew2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Norwegian sovereign wealth fund to pay €613M for Paris mixed-use property

Blog

Understanding the Basics of Social Housing Providers and Associations (SHPAs)

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Real Estate News & Analysis: April Edition

Blog

COVID-19 Impact & Recovery: Investment Banking


Norwegian sovereign wealth fund to pay €613M for Paris mixed-use property

Norway's sovereign wealth fund is acquiring a mixed-use property in central Paris for €613 million.

Under the terms of a Dec. 13 agreement, Norges Bank Real Estate Management will acquire a 100% stake in the property at 79 avenue des Champs-Elysées from Groupama Group.

The property, which consists of 7,200 square meters of retail space and 3,100 square meters of office space, will be unencumbered by debt, and no financing will be involved in the transaction, Norges Bank said in a release.

The deal is slated to close before the end of 2019.

In November, Norges Bank agreed to pay €415.5 million to acquire a 20,400-square-meter office property at 54-56 rue la Boétie, also in central Paris, from a South Korean mutual fund.