Norway fund pays US$453m for stakes in San Francisco office buildings

[OSLO] Norway's US$888 billion sovereign wealth fund, the world's biggest, has bought stakes worth US$453 million in two office properties in San Francisco, the fund's manager said on Wednesday.

Norges Bank Real Estate Management said it was buying the stakes, of 44 per cent, in companies owned by Kilroy Realty Corporation. Kilroy, which previously fully owned the properties, will keep 56 per cent, it added.

REUTERS