Azerbaijan SWF, after London buy, targets £1bn at European RE
19 December 2012, 09:36 PM
The State Oil Fund of Azerbaijan, a sovereign wealth fund, has bought an office complex at 78 St James Street in London’s West End for Stg177m, the first of Stg1bn spending targeted at luxury and trophy properties across Europe. Annual rental income is Stg9.65m, putting net initial yield at 4.5% p.a., it said.
- PIE to hold sovereign wealth roundtable at MIPIM
- Azerbaijan SWF equal to half national GDP - Movsumov
- Sovereign funds boost real estate holdings 30% in 2012 - TheCityUK
- Paris property seen in line for more sovereign wealth investment
- Azerbaijan's Paris, Moscow buys take European RE over ¤450m
- Series-Sovereign Wealth in European Property - 1 Defining the universe
- European property headed for price deflation - JP Morgan
- Azerbaijan developer aims at 1km skyscraper record
- UK’s Tristan raises ¤170m for opportunity fund
- Numerous big deals before year-end reshuffle European real estate pack
For more Property Investor Europe news, click thru to our News archive.