Norway wealth fund buys logistics real estate in California

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)

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