| This is confirmation that Metlife and Norway's Government Pension Fund Global (GPFG) through Norges Bank Investment Management (NBIM) have bought the One Beacon Street office building in Boston for approximately $561 million. This is the second property investment in Boston and the fourth overall for the joint venture, which now has a real estate portfolio with a gross value of approximately $2.4 billion.
MetLife and Norges Bank Investment Management bought the 34-story office tower from a joint venture of Beacon Capital Partners and insurer Allianz. MetLife will own 52.5 percent of One Beacon Street and be the managing member, while Norges Bank Investment Management will own the remaining 47.5 percent...............................................Full Article: Source |