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Norway's SWF buys 45% stake in Times Square office tower

Norway becomes biggest foreign property buyer in America after Canada

New York

NORWAY's sovereign wealth fund (SWF) bought a stake in 11 Times Square, a 40-storey office tower in midtown Manhattan, in a deal the seller says values the building at US$1.4 billion. Norges Bank Investment Management purchased the 45 per cent interest from developer SJP