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04

Norway’s Trillion-Dollar Oil Fund Hitting Critical Mass in Property Deals

By Tony Seruga

With properties in the U.S., U.K., France, Germany and Switzerland, Norges is now exploring possible deals in Singapore

When Norway’s trillion-dollar oil fund decided to start buying commercial property in 2010, its managers figured that it would focus primarily on about a dozen of the world’s top cities.

Eight years later, the fund’s property arm, Norges Bank Real Estate Management, is nearing that goal. Last year, it paid $823 million for a majority stake in a set of five retail and office properties in Tokyo, adding that city to the list that now includes nine principal cities in the U.S., U.K., France, Germany and Switzerland…

Norway’s Trillion-Dollar Oil Fund Hitting Critical Mass in Property Deals

Categories : Commercial Real Estate

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