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Norway Fund to Invest $1.5 Billion in Office Properties

Norway’s sovereign-wealth fund, the world’s largest, agreed to buy stakes in three prime U.S. office buildings for about $1.5 billion, extending a real estate shopping spree as it seeks higher-yielding assets.

Affiliates of Norges Bank Investment Management, which manages the Norwegian government’s global pension fund, is acquiring 45 percent interests the buildings from Boston Properties Inc., the seller said yesterday in a statement. The properties are 601 Lexington Ave. in New York and the Atlantic Wharf Office Building and 100 Federal Street in Boston.