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

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

Qatar Investment Authority (QIA) and real estate investment trust Douglas Emmett Inc (DEI.N) 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.

Qatar, whose wealth comes from the world’s largest exports of liquefied natural gas, manages about $300 billion in assets via its sovereign wealth fund.