Norway wealth fund buys stake in logistics property in London

Norway's sovereign wealth fund has bought a logistics property in the London suburb of Greenford together with investment partner Prologis, the fund's manager, Norges Bank Investment Management (NBIM) said in a statement on Monday. NBIM paid 35.1 million pounds for its 50% stake.

"Prologis has acquired the remaining 50% interest and will perform the asset management on the property on behalf of the joint venture," NBIM said in a statement. The seller of the 20,519 square meters property is RM Coleview 1 Ltd.