Norway's oil fund buys into Boston property for $122 mln

OSLO, July 28 Mon Jul 28, 2014 10:42am EDT

OSLO, July 28 (Reuters) - Norway's $890 billion sovereign wealth fund bought a 47.5 percent stake in a Boston office property for $122.3 million in a deal that valued the asset at $561.5 million dollars, it said on Monday.

The Fund bought the stake in the office building at One Beacon Street in a joint venture with MetLife, which owns the rest of the 1 million square-foot building and will perform the asset management of the property.

The transaction included approximately $304 million of existing debt, the fund said. (Reporting by Balazs Koranyi, editing by Terje Solsvik)

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