January 23, 2019 / 1:47 PM / 4 months ago

Norway wealth fund bought stakes in U.S. logistics properties

OSLO (Reuters) - Norway’s sovereign wealth fund, the world’s biggest, has bought six logistics properties in Chicago, Nashville and Orlando together with real estate partner Prologis, the fund said on Wednesday.

“Norges Bank Real Estate Management paid $87.7 million for its 45 percent interest ... The sellers are ventures between Prologis and U.S. pension funds managed by J.P. Morgan Asset Management,” it added.

The properties have a total area of 2.8 million square feet.

Reporting by Oslo newsroom

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