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