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Transactions - SEPTEMBER 14, 2015

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Norway’s SWF buys several U.S. office assets

by Andrea Waitrovich

Norges Bank Investment Management, which invests on behalf of Norway’s Government Pension Fund Global, continues to expand its real estate holdings in the United States. Recently, the sovereign wealth fund purchased office properties in New York City and San Francisco.

In Manhattan, the NBIM purchased an 11-property portfolio from Trinity Real Estate. Real Capital Analytics estimates the portfolio is valued at $3 billion.

All the office buildings are located blocks from each other and total more than 4.9 million square feet. The highest priced asset is located at 345 Hudson St., valued at approximately $752.8 million. The office building totals 984,432 square feet. And the largest property is the 1.2 million-square-foot One Hudson Square, located at 431 Canal St., which sold for $590.9 million.

Other assets in the portfolio are located at 225 Varick St., 100 Sixth Ave., 155 Sixth Ave., 12–16 Vestry St., 10 Hudson St., 200 Hudson St., 205 H

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