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The building, located on the avenue of America 1177, is observed in New York.
Adam Runri | Bloomberg | Gets the image
The Sovereign Welfare Fund in Norway at $ 2 trillion intends to invest more than half a billion dollars in the New York office building, the last major investment in Prime Global Real Estate.
The Fund, the world’s largest in the world, is managed by Norges Bank Investment Management (NBIM) on behalf of the Norwegian population.
Nbim – Note On Tuesday, he will pay $ 542.6 million for 95% of office property on America Avenue 1177 – also known as the sixth Avenue.
The purchase will be a joint venture with the Beacon Capital Partners investment company. Beacon’s subsidiary will take 5% shares in the building, and Beacon oversees real estate assets for 1 million square feet.
The transaction that estimates property of $ 571.1 million will be completed in the third quarter of this year.
NBIM and Beacon will buy an office building in the retirement pension faculty in California and Silverstein Properties that currently own it under a joint venture.
Created in the 1990s to invest excess income from the Norway’s oil and gas industry, the sovereign fund of the country’s wealth is more than 19.8 trillion in the Norwegian Crohn ($ 1.98 trillion).
While the focus in the fund is global stocks – with the rates in Apple. Nvidia. TeslaGerman defensive gigan Reinmetall And TSMC chips – 1.9% of their investments are in real estate.
Its portfolio already includes more than a dozen New York buildings, with possessions in Prime Manhattan Property. The fund belongs to 45% of the shares in the Times -Square -Treaty and is put into real estate on the Madison Avenue, Broadway in New York, and one that will be nearby with its new investment on America Avenue.
NBIM property also covers further through the US.
As of June 30, NBIM NBIM real estate covered 15 countries and 486 property investments worth more than $ 16 billion in the US.
Earlier this yearIt has been announced that the $ 740 million deposit is to buy 25% of the Real Estate portfolio at the Covent Garden District Supermarket.
NBIM also agreed to pay 240 million euros ($ 279 million) earlier this year for 40% of Axa Lifestyle housing, which occupies a platform that owns and manages students and residential real estate in Spain and France.
In the first half of the year, the fund outlined 4% income from real estate investment.
