Norges Bank Makes Billion Euro Investment in Paris

Norway — Norges Bank Real Estate Management has acquired a 100 percent interest in the Vendôme Saint-Honoré property, located at 9 Place Vendôme and 368-374 rue Saint-Honoré in central Paris.

2016-12-29

The agreement was signed and completed on 16 December 2016.

Norges Bank Real Estate Management paid EUR 1.0 billion euros for the property. No financing was used in the acquisition and the asset will be held unencumbered by debt.
The sellers of the property were Trajan Luxembourg S.a.r.l and Trajan Luxembourg II S.a.r.l, both controlled by private investors John Magnier and JP McManus.

The property comprises 26,800 square metres and includes 80 percent rentable office space and 20 percent rentable retail space.