Confirmed: Metlife and Norway SWF Acquire One Beacon Street

This is confirmation that Metlife and Norway’s Government Pension Fund Global (GPFG), through Norges Bank Investment Management (NBIM), have purchased One Beacon Street in Boston, Massachusetts for US$ 561 million. Metlife will control 52.5% of the tower.

“Our partnership with the world’s largest sovereign-wealth fund is built on a strategy of providing first-rate asset management and of investing for the long-term,” Robert Merck, global head of real estate investments at MetLife, said in a press release. “One Beacon Street in Boston adds a high-quality asset in a core market to our joint portfolio.”

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