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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Norway’s oil fund, TIAA-CREF buy Washington property

Posted on 17 November 2014

Norway’s sovereign wealth fund and U.S. financial services group TIAA-CREF have bought a Washington D.C. property in a deal valuing the site at $165 million, the fund said on Friday.
The fund bought a 49.9 percent stake for $82.3 million, which according to the statement has no debt, while TIAA/CREF bought the rest and will manage it on behalf of the partnership, it added. The property was bought from The Maritime Engineers Beneficiary Association, which will have a 99 year lease on it………………………………….Full Article: Source


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