Norway USD 1.4tn fund flags more unlisted property deals

Norway's sovereign wealth fund is lining up more deals for its unlisted real estate after buying a stake in US office property last week, a sign that the pandemic-hit market is on the mend.

Mie Holstad, who took over as chief real assets officer in October, | Photo: PR / NBIM

"We are still seeing a bit less activity on the unlisted side of the portfolio, but we do have a good pipeline now, which also consists of a few more disposals than what we've seen recently," Mie Holstad, who took over as chief real assets officer in October, said in an interview.

Norges Bank Investment Management, as the Oslo-based fund is known, paid USD 391.9m last week for a 47.5 percent stake in a joint venture with MetLife Investment Management holding the One Memorial Drive office property in Cambridge, Massachusetts.

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