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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Norway’s SWF buys US property for first time

Posted on 13 February 2013

Norway’s sovereign wealth fund – currently worth 3.9 trillion kroner ($0.71 billion) – has purchased American property for the first time as it continues to expand its real estate holdings. The Norwegian Government Pension Fund Global announced it had bought a 49.9% stake in five office properties along the east coast of the United States: two each in New York City and Washington, DC, and one in Boston.
The properties, valued at $1.2 billion, will be managed by majority owner Tiaa-Cref, which oversees a host of retirement equity funds. The joint venture is seeking to purchase additional office properties, initially in “key east coast cities”, the announcement said………………………………………..Full Article: Source


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