January 25, 2018 / 11:55 AM / a month ago

Norway wealth fund shuffles U.S. logistics property portfolio

OSLO (Reuters) - Norway’s $1.1 trillion sovereign wealth fund and real estate firm Prologis Inc. (PLD.N) have sold 27 logistics properties from their joint U.S. portfolio to a unit of Blackstone (BX.N), the fund said in a statement on Thursday.

    Norges Bank Real Estate Management received $110.1 million for its 45 percent ownership in the Chicago, Florida and New Jersey buildings, which were acquired as part of a larger portfolio in May 2015.

    The fund said it had also bought a stake in a logistics property in San Francisco, paying $29.1 million for a 45 percent stake, while Prologis would buy the rest and manage the site.

    Reporting by Terje Solsvik; editing by Jason Neely

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below