Retail real estate investment in Europe enjoyed a strong quarter as the Q2 volume reached €9.6bn, up 86% from the Q2 2013 volume of €5.2bn.
It's summertime (at least in the Northern Hemisphere). And summertime is road-trip time!
Norway's government pension fund has purchased stakes in two office properties in Washington and San Francisco for a net purchase price of $480 million, according to Reuters.
Norway's government pension fund has purchased a 45 percent stake in a 12.8 million-square-foot industrial and logistics property portfolio in the U.S. from Prologis Inc. for $450 million. Prologis will keep a 55 percent share in the joint venture.
Europe's second-largest publicly traded shopping mall operator has sold four shopping centers in Norway for 247 euros ($336 million) in an effort to raise funds for future projects in Norway, Sweden and Denmark.
Norway's government pension fund is joining AXA Real Real Estate in a joint venture to invest in real estate loans in Europe, worth up to €600 million ($815 million). The venture plans to invest in primary issuances of commercial real estate loans.
Norway's oil fund has purchased a £250m portfolio of suburban warehouses in the U.K. as it moves forward with plans to increase its property assets. The Norwegian Pension Fund Global has agreed to buy 11 warehouses used as distribution centers for retailers.
Norway's oil fund has dramatically increased its property acquisitions in recent months, as it looks to establish itself as a key player in the real estate world. In the six months to March, the world's largest sovereign wealth fund increased its purchase pace for property assets.
According to global property advisor CBRE, European retail property investment activity jumped to €13.5 billion in the fourth quarter of 2012 (Q4 2012) - a 50% increase on the three-year quarterly average of €9.0 billion and an impressive 90% change from Q3 2012.
You're in luck...two times over. You still have a couple of months to see the greatest light show on Earth...the Northern Lights, or Aurora Borealis. And this winter is considered by astronomers to be one of the best in recent memory for seeing them.
Norway has just brought an early Christmas Holiday present to American institutional owners of large Class A office complexes and other conservative property assets in major cities and developed malls. Norway's $660 billion sovereign wealth fund, the world's largest, announced it is entering the U.S. real estate investment market for the first time. The fund plans to invest about $11 billion in various countries.
In the biggest commercial real estate deal in Germany this year, Paris-based Axa Investment Managers SA and Norway's Sovereign Wealth Fund (Norges Bank Investment Management) contracted to buy two prime office and retail properties in Berlin and Frankfurt for 784 million Euros ($1 billion U.S.) The seller was Edinburgh-based Royal Bank of Scotland Group Plc. The deal is expected to close by Dec. 31 or earlier.
Norway's sovereign wealth fund, Europe's biggest equity investor, has announced it will be trimming its European exposure and putting its money instead into assets located in the Asia-Pacific rim, Latin America and Africa. The move could signal a similar investment strategy change among other global wealth funds.
Despite no great surge in spending by consumers in the U.S. and abroad, big-name international institutional and corporate investors are scouring the hemispheres for prime retail properties, according to recent research by Jones Lang LaSalle.