21.04.2015 - Norway Strikes Biggest Property Deal Betting on U.S. Warehouses
Norway’s sovereign-wealth fund made its biggest real estate investment yet, teaming up with Prologis Inc. to buy warehouse properties in 17 U.S. states for $5.9 billion. The $890 billion fund will cover $2.3 billion of the purchase through the Prologis U.S. Logistics Venture, which is 45 percent owned by the Oslo-based investor. It’s the fund’s largest single real estate purchase since it started buying up property in 2011. “We’re getting exposure to some good assets in some very good markets,” Karsten Kallevig, head of real estate investments at the fund, said by phone from Oslo.........................................Full Article: Source
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