Norway's wealth fund takes 48% stake in New York property
[OSLO] Norway's US$975-billion sovereign wealth fund, the world's largest, has bought a 48-per cent stake in a New York City property, it said on Monday.
Norges Bank Real Estate Management paid US$223 million for the stake in the 93-year ownership interest of 375 Hudson Street from Trinity Church Wall Street, valuing the property at US$865 million.
The deal was done in a joint venture with Trinity Church Wall Street and Hines, the Norwegian fund added.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore Q1 industrial rents rise further 1.7%, as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction