The Norwegian sovereign fund will buy 95% of an office building in New York for 542 million dollars

Norges Bank Investment Management (NBIM) will acquire a 95% stake in an office building located at 1177 Avenue of the Americas, valued at $571.1 million. The transaction, valued at $542.6 million, will be carried out in partnership with Beacon Capital Partners, which will manage the asset. NBIM already has significant investments in New York and holds an extensive global real estate portfolio, with assets exceeding $16 billion in the U.S.