Sales Beat

Norway’s Wealth Fund Makes More U.S. Property Deals

425 Market Street

Norges Bank Investment Management, the manager of Norway’s sovereign wealth fund, is maintaining a steady flow of U.S. property deals in early 2014. Last week, NBIM announced it would invest two additional U.S. office properties as part of its joint venture with MetLife

The two properties, in Washington D.C. at 555 West 12th Street and San Francisco at 425 Market Street, are the second and third investments made by the joint venture since it formed in early December. The first deal was an investment in One Financial Center in Boston.

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Accounting 2013

REIT So Sweet: Investors Reconsider Real Estate Investment Trusts


Tax-advantaged Real Estate Investment Trusts are likely to gain favor among investors, boosted by increasing tax rates, recovering real estate prices and faster-than-anticipated growth, according to Paul Becht, audit partner at Holtz Rubenstein Reminick LLP.

The U.S. already raised the tax rate on qualified dividends to 20 percent, from 15 percent, making REITs more attractive relative to other equity investments. And there’s a possibility of more tax rate adjustments as the government continues to cast around for ways to balance the budget. Read More

Sales Beat

Boston-Based TA Associates Soars With $57.2 M. Pickup of Rare JFK Portfolio


TA Associates Realty has purchased a 12-building, 481,000-square-foot portfolio adjacent to JFK International Airport’s runway system in Queens, N.Y., known as the JFK Air Cargo Portfolio, for $57.2 million, The Commercial Observer has learned.  The portfolio includes eight land parcels.

“Opportunities to acquire portfolios in the JFK market occur every other decade,” said Gary Gabriel of Cushman & Wakefield in a statement. Read More