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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Norway oil fund buys $684 mln stake in Manhattan Tower

Posted on 10 September 2013

Norway’s sovereign-wealth fund agreed to buy a 45 percent stake in a Manhattan office building from Boston Properties Inc. for $684 million, expanding its real estate holdings in the world’s largest economy.
Boston Properties, the biggest U.S. office real estate investment trust, will keep a 55 percent stake in the Times Square Tower and manage the building on behalf of the joint venture, the Oslo-based fund said in a statement on its website………………………………………..Full Article: Source


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