MetLife, Norwegian Bank Buy Buildings In Boston, D.C., San Francisco

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MetLife Inc. and a Norwegian bank announced Monday that they bought an office building at One Beacon Street in Boston for $561 million, the latest high-profile commercial-real-estate investment by the life insurer.

MetLife and Norges Bank Investment Management purchased the 34-story building from a joint venture of Beacon Capital Partners and the German insurer Allianz. MetLife has a controlling share at 52.5 percent and will be the managing partner.

The office tower was built in 1973 and is 85 percent leased. The building has offices for the Massachusetts Housing Finance Agency, the University of Massachusetts, the University of Massachusetts Building Authority, Standard Life Investments USA Limited and JPMorgan Chase Bank, N.A.

The joint venture between MetLife and Norges Bank also includes One Financial Center in Boston; District Center at 555 12th Street, NW, in Washington, D.C.; and 425 Market Street in San Francisco.

MetLife is based in New York and has offices in Bloomfield.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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