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Norway's Wealth Fund Pays $291M For Boston Building Stake

Law360 (August 22, 2018, 2:19 PM EDT) -- Norway's sovereign wealth fund Norges Bank Real Estate Management has bought a minority interest in a Boston office and retail property from TH Real Estate for $290.9 million, according to separate announcements from the companies on Wednesday.

The fund has bought a 49.9 percent stake in 501 Boylston St., which has 610,000 square feet of office and retail space. TH Real Estate will retain a 50.1 percent stake in the building and will continue as asset manager at the property.

"We are continuously rebalancing our portfolios and considering current market conditions," Sam Flood, regional head of New England and Midwest investments...

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