OSLO: Norway’s sovereign wealth fund, 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 US$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 US$31 million, it added.
(Reporting by Gwladys Fouche, editing by Ole Petter Skonnord)