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Funds News

Norway wealth fund in deal to sell New York property

OSLO, Dec 13 (Reuters) - Norway’s sovereign wealth fund and one of its partners, TH Real Estate, have agreed to sell a jointly owned property located at 470 Park Avenue South in New York, the real estate investment arm of Norway’s central bank said in a statement on Thursday.

“Norges Bank Real Estate Management will receive $122 million for its 49.9 percent ownership interest,” it added.

The property, which was acquired in February 2013, comprises 301,178 square feet of office and ground floor retail space. The buyer is a partnership of SJP Properties and PGIM Real Estate. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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