COPENHAGEN (Reuters) -Norway’s sovereign wealth fund said on Friday it had acquired a 45% stake in a portfolio of logistics properties in the United States from the Canada Pension Plan Investment Board in a new joint venture with Goodman Group for $1.07 billion.
Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund, said it valued the portfolio at $3.27 billion, which is encumbered by $888 million of existing debt.
Goodman already owned 55% of the portfolio ahead of the deal and will retain its ownership share.
The transaction comprised 48 buildings in Southern California, New Jersey, and Pennsylvania, the Norwegian fund said.
(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)
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