Charlotte, N.C. — Asana Partners and Norges Bank Investment Management (NBIM), which manages the Norwegian Government Pension Fund, have formed Asana Partners Strategic Partners I, a joint venture focused on core and core-plus neighborhood retail properties, including grocery-anchored centers, unanchored centers, street retail and mixed-use properties. Norges invested $500 million in equity for the partnership, and will own a 49 percent stake, according to multiple media outlets.
The partnership’s first investment will be a 50 percent interest in a portfolio consisting of premium, grocery-anchored retail centers. In addition, the venture will focus on properties located in markets with attractive demographics, durable tenant demand, strong consumer fundamentals and opportunities for long-term value creation.