Published by Global Banking & Finance Review®
Posted on September 2, 2025
1 min readLast updated: January 22, 2026
Add as preferred source on GoogleNorway's wealth fund has acquired a 95% stake in a NYC office building for $542.6 million, with Beacon Capital Partners managing the property.
OSLO (Reuters) -Norway's sovereign wealth fund said on Tuesday it has bought a 95% stake in an office property located along New York City's Avenue of the Americas.
Norges Bank Investment Management will pay $542.6 million for the stake, valuing the property at $571.1 million, it added.
A unit of Beacon Capital Partners will buy the remaining 5% and manage the building on behalf of the two investors, the Norwegian fund said.
The seller of the property is a joint venture between the California State Teachers' Retirement System and Silverstein Properties, the fund added.
(Reporting by Terje Solsvik, editing by Stine Jacobsen)
Norway's sovereign wealth fund acquired a 95% stake in the office property.
The fund will pay $542.6 million for the 95% stake, valuing the property at $571.1 million.
A unit of Beacon Capital Partners will manage the building on behalf of the two investors.
The seller of the property is a joint venture between the California State Teachers' Retirement System and Silverstein Properties.
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