CORRECTED-(OFFICIAL)-Norway's $700 bln oil fund makes first U.S. property investment
(Norway oil fund corrects price to $600 mln from $1.2 bln)
OSLO Feb 11 (Reuters) - Norway's $700 billion oil fund made its first property purchase in the United States on Monday, paying $600 million for stakes in five assets in New York City, Washington D.C. and Boston, it said in a statement.
The fund purchased 49.9 percent stakes in the five properties from TIAA-CREF, which will continue to hold a majority in the assets and will manage them in a joint venture with the fund.
"The joint venture will seek to acquire additional office properties, primarily in these three cities," the fund said.
(Reporting by Balazs Koranyi)
- Radar showed missing plane may have turned back: Malaysia military
- Malaysian jetliner may have turned back before vanishing |
- Malaysian plane presumed crashed; questions over false IDs |
- Russian forces tighten grip on Crimea despite U.S. warning |