Royal Dutch Shell Pension Fund, The Hague, Netherlands, hired Eastdil Realty to help sell four Class A office properties in New York City, Washington, Atlanta and Cincinnati, said Henk Bonder, Royal Dutch spokesman. Over the next two years, the 29 billion guilder ($7.4 billion) pension fund plans to sell its entire real estate portfolio, which includes office and residential properties in both the United States and Netherlands. Mr. Bonder said it is too difficult to retain staff to manage the portfolio, the size of which was not available. "Most would rather work for a large real estate company, he said.
The plan has not decided how to invest the proceeds of the sale.