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Source Says Norges Is Buying Another DC Office

WASHINGTON, DC--A source tells us that Norges is partnering with the Toronto-based Oxford Properties to buy 900 16th St., NW for $160 million, or $1,250 per square foot, from JBG Cos. and ICG.

By Erika Morphy | erikamorphy | Updated on June 05, 2017

900 16th St., NW. Photo by JGB Cos.

WASHINGTON, DC–The Norwegian government’s global pension fund, called Norges Bank Investment Management, is among the richest in the world and its real estate mandate — with its penchant for gateway markets and core, trophy office buildings — is tailor-made for the District. Alas, though, the fund has only invested in a handful of properties here, most lately its acquisition, with MetLife in a JV, of Constitution Square Three and Four, for $422 million last September.

Now a source tells us that Norges is partnering with the Toronto-based Oxford Properties to buy 900 16th St., NW for $160 million, or $1,250 per square foot.

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