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MetLife, NBIM create JV to invest in U.S. commercial real estate market

MetLife and Norges Bank Investment Management announced a joint venture among their affiliates to invest collectively in Class A office properties in key U.S. markets over an extended period. The companies also announced the initial investment through the joint venture: One Financial Center in Boston, Mass. One Financial Center in Boston is a 46-story, Class A office building totaling 1.3 million square feet in the city’s financial district. The property is located at 10 Dewey Square, near Boston’s South Station. NBIM purchased its 47.5% share of the asset from Beacon Capital, while MetLife increased the current share by 2.5 percentage points.