A pair of Raleigh’s newest office towers has been sold for $210 million — a significant decrease from the record sum of $330 million the two towers fetched in 2022.
Why it matters: The new owner is a partnership between Raleigh’s largest landlord, Highwoods Properties, and the North Carolina Investment Authority, an entity formed last year by state law to manage investments for the state’s pension plan.
- Previously, the state’s pension plan’s investments were decided solely by the state treasurer. Now, a five-person board directs its strategy, including this latest move to diversify its investment assets.
Zoom in: The…..