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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Norges Bank to acquire US office assets worth nearly $1bn

Posted on 23 July 2014

Norges Bank Investment Management (NBIM), which manages Norway’s sovereign wealth fund, is in talks to buy two office buildings in the US for $915m (€677m), according to sources. The properties in Boston and San Francisco are being bought in joint ventures with US insurer MetLife and TIAA-CREF, respectively.
The Boston property – the 1m sqft One Beacon Street building – is expected to be sold for around $565m by Allianz Real Estate and Beacon Capital Partners, which bought the asset for its closed-end Strategic Partners IV fund in 2006………………………………………..Full Article: Source


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