OSLO, Jan 22 (Reuters) - Norway's sovereign wealth fund announced on Wednesday that it has acquired a 25% ownership stake in a mixed-use property portfolio situated in London's Mayfair district for 305.7 million pounds ($376.53 million).
The portfolio spans 2.3 million square feet and comprises predominantly of office and retail assets concentrated around Grosvenor Street and Mount Street, as stated by the fund.
The seller of the stake is real estate group Grosvenor, who retains a 75% interest and will oversee the management of the properties, according to the Norwegian fund.
The deal places the value of the property portfolio at 1.223 billion pounds, the fund reported.
($1 = 0.8119 pounds)