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COPENHAGEN (Reuters) -Norway’s sovereign wealth fund mentioned on Friday it had acquired a forty five% stake in a portfolio of logistics properties in the USA from the Canada Pension Plan Funding Board in a brand new three way partnership with Goodman Group for $1.07 billion.
Norges Financial institution Funding Administration (NBIM), the world’s largest sovereign wealth fund, mentioned it valued the portfolio at $3.27 billion, which is encumbered by $888 million of current debt.
Goodman already owned 55% of the portfolio forward of the deal and can retain its possession share.
The transaction comprised 48 buildings in Southern California, New Jersey, and Pennsylvania, the Norwegian fund mentioned.
