Norway wealth fund buys logistics real estate in California

By On July 19, 2018

Norway wealth fund buys logistics real estate in California

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  • Norway wealth fund buys logistics real estate in California
Norway wealth fund buys logistics real estate in California
A general view of the main entrance of Prologis logistics complex  in Cajamar, Brazil February 2, 2018.   REUTERS/Gabriela Mello
A general view of the main entrance of Prologis logistics complex in Cajamar, Brazil February 2, 2018. REUTERS/Gabriela Mello

OSLO (Reuters) - Norway's sovereign wealth fu nd, the world's largest, has bought a logistics property in the U.S. state of California with its property partner Prologis, it said on Thursday.

The fund paid $25.4 million for a 45-percent stake in the property. Prologis will hold the remaining 55 percent. The seller was Barings.

The two companies have also sold a logistics property in Dallas, Texas, to Kohler for which the fund will receive $31 million, it added.

(Reporting by Gwladys Fouche, editing by Ole Petter Skonnord)

Source: Google News Norway | Netizen 24 Norway

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