Fund expands partnership with The Crown Estate
The Norwegian Government Pension Fund Global acquired a 25% interest in Regent Street's Quadrant 3 building in London's West End.
The Fund acquired its 25 percent interest in the property from The Crown Estate for £97.5 million, valuing the entire building at £390 million (3.9 billion kroner). The Crown Estate retained a 75 percent interest in the property and will continue to manage the asset on behalf of the partnership. The transaction further expands the Regent Street partnership which the Fund and The Crown Estate established in 2011.
Quadrant 3 provides 270,000 square feet (25,000 square meters) of office, retail and restaurant space over basement, ground and 7 upper floors. The building was recently developed by The Crown Estate and completed to a BREEAM Excellent environmental standard.
Thomas Sevang, Head of Communications & External Relations,
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