Next Finance English Flag Drapeau Francais
Jobs Training Search

Norges Bank Investment Management makes new investments in Berlin and Paris

Norges Bank Investment Management has signed agreements to acquire a 65 percent interest in two properties: VoltAir, a newly built mixed-use property located on Voltairstrasse 8-10 in Berlin, and 86 boulevard Haussmann, an office property in central Paris.

Article also available in : English EN | français FR

Norges Bank Investment Management has signed agreements to acquire a 65 percent interest in two properties: VoltAir, a newly built mixed-use property located on Voltairstrasse 8-10 in Berlin, and 86 boulevard Haussmann, an office property in central Paris.

Both investments will be made together with Swiss Life Group.

The agreements were signed on 8 September, with completion expected in February 2023 for VoltAir and in December 2022 for 86 boulevard Haussmann.

Norges Bank Investment Management will pay 297 million euros for its 65 percent ownership interest in VoltAir, valuing the property at 457 million euros.

The sellers of VoltAir are ABG Real Estate and Gaedeke & Sons. The property comprises c.30,000 square meters of office and retail.

Norges Bank Investment Management will pay 141 million euros for its 65 percent ownership interest in 86 boulevard Haussmann, valuing the property at 217 million euros.

The sellers of 86 Haussmann are Swiss Life Assurance et Patrimoine, Swiss Life Prevoyance et Santé and Swiss Life Assurances de Biens. The property comprises c.11,000 square meters of office.

Both assets will be unencumbered by debt, and no financing will be involved in the transaction.

Swiss Life Group entities will hold a 35 percent interest in the properties, and Swiss Life Asset Managers will perform the asset management.

Next Finance 12 September

Article also available in : English EN | français FR

Tags


Share

Facebook Facebook Twitter Twitter Viadeo Viadeo LinkedIn LinkedIn

Comment
Advertising
In the same section
Sections