OSLO - Norway's sovereign wealth fund has agreed to buy 65% stakes in two properties located in Paris and Berlin for 438 million euros ($442 million), Norges Bank Investment Management said in a statement on Friday.

Swiss Life Group will hold the remaining 35% and will manage the properties, NBIM said.

($1 = 0.9902 euros)

(Reporting by Terje Solsvik; editing by Jason Neely)