Norway’s SWF Gets DC Fever
What better institutional real estate market is there other than D.C., where the U.S. federal government or lobbyists are key tenants?
Cash-rich sovereign wealth funds often partner with large insurance companies or real estate firms to target core real estate in the United States. Norges Bank Real Estate Management, the real estate arm of Norges Bank Investment Management (NBIM) acquired a 47.5% ownership stake in Constitution Square, an 842,000 square foot office property on 175 N. Street, N.E. and 150 M Street, N.E. in Washington, D.C., in a joint venture with MetLife, Inc. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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