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.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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