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 retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2