Norway’s Sovereign Wealth Fund Invests in Google DC Property

Google.com, Screenshot, March 26, 2015

Google.com, Screenshot, March 26, 2015

Norges Bank Investment Management (NBIM), the manager of Norway’s massive sovereign wealth fund, invested with TIAA-CREF in a Washington D.C. office property. The deal values the property at US$ 307 million. NBIM bought a 49.9% stake in the building which touts Google as a key tenant for US$ 60.8 million. The property asset is encumbered with US$ 185.1 million of existing debt. TIAA-CREF bought the remaining portion of the property and will manage the property on behalf of their partnership.

The property is located at 25 Massachusetts Avenue, NW, a 385,598 square foot office property. The building is a few blocks from the United States Capitol – perfect for lobbying activities and organizations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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