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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.