Karsten Kallevig – CIO Real Estate, NBIM – Photo Credit: NBIM
etlife, Inc. and Norges Bank Investment Management
(NBIM) through their joint venture purchased two Class A office buildings in Washington, DC and San Francisco. The Norwegian sovereign wealth fund has made major inroads in U.S. core real estate
. The San Francisco office property is Norway’s first real estate investment on the West Coast. The joint venture is 47.5% NBIM and 52.5% Metlife. The net purchase price for the San Francisco and DC properties for 47.5% for NBIM is US$ 480 million. This brings the gross value of the two assets to around US$ 1 billion.
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