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Ireland’s NAMA Closes Deal with Consortium Led by Starwood Capital

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irelandIreland’s National Asset Management Agency (NAMA) has sold a portfolio of Irish commercial property loans to a new joint venture. The joint venture is 80% owned by a consortium of private investors led by Starwood Capital Group and the rest by NAMA. Other consortium members include Key Capital Real Estate and Catalyst Capital.

The loan portfolio backs 30 office and retail properties. It was sold for around €200 million, 25% of its original value of €800 million. NAMA provided a senior secured vendor finance loan to the joint venture.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Property Bureau Moves Assets to Thailand King Under 2017 Law

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In December 2016, Crown Prince Maha Vajiralongkorn became King of Thailand, succeeding his father King Bhumibol Adulyadej who passed away in October 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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