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Wed 2 Mar 2016 10:49 AM

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Qatar Investment Authority inks $1.34bn deal to buy Los Angeles offices

Gulf SWF teams up with US REIT to purchase four blocks in high-end West LA neighbourhood

Qatar Investment Authority inks $1.34bn deal to buy Los Angeles offices
Photo for illustrative purpose. (AFP/Getty Images)

Qatar’s sovereign wealth fund has signed off a $1.34 billion deal to buy four office buildings in Los Angeles.

The Qatar Investment Authority (QIA) bought the 1,725,000 square foot property portfolio along with a joint venture partner, local real estate investment trust (REIT) Douglas Emmett.

The four ‘class A’ buildings are in Westwood, a West Los Angeles district that borders Beverly Hills.

Last year, the QIA said it planned to invest $35 billion in North America over the next five years as part of plans to diversify its portfolio.

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