The sovereign wealth fund of Azerbaijan has carried out its first acquisition in London as part of a £1 bn push in the European real estate sector.
The sovereign wealth fund of Azerbaijan has carried out its first acquisition in London as part of a £1 bn push in the European real estate sector.
According to a news report in UK journal Property Week, the State Oil Fund of Azerbaijan has bought 78 St James’s in the West End from an open-ended fund managed by RREEF for £177 mln (EUR 218 mln).
The office property totalling 11,000 m2 is fully let to HSBC until 2023.
