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NBIM and Prologis JV Look to LondonMetric’s Distribution Network

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LondonMetric Property Plc is a real estate investment trust (REIT) that was created from a merger between Metric Property Investments Plc and London & Stamford Property Plc. The UK-based REIT is in discussions to sell £275 million in distribution warehouses across England to the €2.4 billion joint venture managed by Prologis and backed by Norges Bank Investment Management (NBIM).

The warehouses are occupied by third-party logistic operators. The assets are held in a joint venture between LondonMetric Property and Green Park Investments, a Middle-Eastern group.

London & Stamford sold its jointly owned Meadowhall shopping centre to Norges Bank Investment Management in the Fall of 2012.

June 4, 2013 Update
LondonMetric Property Plc has agreed to sell a portfolio of logistic centers for a deal valued at £247.6 million. The purchased portfolio consists of 11 warehouse properties with 2.4 million square feet of aggregated space.

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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