IN-DEPTH: MetLife JV buys fourth property for $561m
MetLife Real Estate Investors and Norges Bank Investment Management, which invests on behalf of Norway’s Government Pension Fund Global, have closed on their acquisition of 1 Beacon St. in Boston for approximately $561 million.
The office building at 1 Beacon St. is the second property investment in Boston and the fourth overall for the joint venture, which now has a real estate portfolio with a gross value of approximately $2.4 billion.
The seller was a joint venture of Beacon Capital Partners and Allianz Real Estate of America. Eastdil Secured represented the seller.
MetLife will own 52.5 p