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

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.