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Report: Norwegian pension fund, Oxford to pay $160M for Washington, DC, asset

The Norwegian government's global pension fund, Norges Bank Investment Management, and Oxford Properties are set to acquire 900 16th St. NW in Washington, D.C., for $160 million, GlobeSt.com reported, citing an unnamed source.

The 135,000-square-foot property is a joint venture between ICG Properties and JBG Cos.

According to the report, law firm Miller & Chevalier Chartered occupies 87,000 square feet at the property.

The sale comes ahead of JBG's proposed merger with Vornado Realty Trust's Washington, D.C., business, expected to take place in the second quarter.