Norway Sovereign Fund Acquires Interest of 11 Times Square Property
Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, has purchased a 45% interest in 11 Times Square. Founded in 1981, SJP Properties was founded by Steven J. Pozycki. The 45% interest was acquired from Prudential Real Estate Investors and SJP Properties, who will together remain as majority owners. The deal was signed on January 23, 2015 and closed on February 11, 2015. Norway’s sovereign wealth fund has invested in a number of properties in the Northeast of America.
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