Herbert Smith and SJ Berwin have won lead roles as Norway’s Norges Bank Investment Management agrees to buy a 25% stake in the Queen’s Regent Street property portfolio for almost half a billion pounds.
The deal is expected to see Norges, which manages the Norwegian Government Pension Fund Global, pay £448m to buy the 150-year lease on the property portfolio from The Crown Estate. It marks the fund’s first investment in real estate since the Norwegian Government gave permission to invest in the class on 1 March.
