July 1, 2019 / 8:57 PM / 2 months ago

Qatar Investment Authority, Douglass Emmett acquire $365 mln California real estate complex

DOHA, July 1 (Reuters) - Qatar Investment Authority (QIA) and real estate investor Douglas Emmett Inc have acquired a $365 real estate development in California, the Qatari sovereign wealth fund said on Monday.

The deal is for the acquisition of The Glendon, a residential community in Westwood, California with 350 apartments and approximately 50,000 square feet of retail, the statement said. The deal is part of QIA’s plans to increase its assets in the United States to $45 billion in coming years, the statement said. (Reporting by Eric Knecht; editing by Grant McCool)

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