Norwegian capital crosses the pond — again
Norges Bank Investment Management, which manages Norway’s Government Pension Fund Global, one of the world’s largest sovereign wealth funds, has made yet another significant push into U.S. real estate, this time inking new joint venture deals with MetLife Real Estate Investors and Prologis.
The MetLife deal was signed Dec. 13, 2013, and is pursuing class A office properties in major U.S. markets. The total number of dollars NBIM is placing under MetLife’s control has not been disclosed.
Ten days after the MetLife deal, on Dec. 23, 2013, NBIM entered into a partnership with global logistics firm Prologis to purchase a 45 percent stake in a 12.8 million square foot portfolio of industrial and logistics properties in the United States for $450 million. The portfolio con