July 19, 2018 / 10:14 AM / 7 months ago

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

OSLO (Reuters) - 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 $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

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