.
MergerLinks Header Logo

New Deal


Announced

MetLife and Norges Bank to acquire One Memorial Drive from Oxford Properties and JP Morgan for $825m.

Financials

Edit Data
Transaction Value£601m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

Edit

Pending

Cross Border

Real Estate

United States

Real Estate Holding and Development

Single Bidder

Class A office

Acquisition

Private

Friendly

Majority

Synopsis

Edit

MetLife Investment Management, an institutional asset management business of MetLife, and Norges Bank, a central bank of Norway, agreed to acquire One Memorial Drive, a 17-story, Class A office building located on the Charles River, from Oxford Properties, a Canadian multinational real estate company, and JP Morgan, for $825m. “We’re proud to continue partnering with the team at Norges Bank Investment Management as we add high-quality office properties that will generate value over the long-term for our portfolio and our clients. The One Memorial Drive transaction reinforces our approach of targeting properties in strategic geographies and markets, as well as our commitment to environmental sustainability across our real estate portfolio," Sara Queen, MetLife Investment Management Head of Real Estate Equity.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US