December 13, 2013 / 2:00 PM / 4 years ago

Norway's $800 bln oil fund buys into MetLife's Boston tower

OSLO, Dec 13 (Reuters) - Norway's $800 billion sovereign wealth fund has purhcased a 47.5 percent stake in One Financial Center, a 46-story office tower with 1.3 million rentable square feet in Boston, joining MetLife in the property, it said on Friday.

The fund, commonly known as the oil fund, purcahsed its stake from an affiliate of Beacon Capital Strategic Partners V, L.P. for a net price of $238 million, it said in a statement.

MetLife, which will manage the property, meanwhile purchased 2.5 percent, bringing its total holding to 52.5 percen, the oil fund added.

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