NBIM Completes Logistic Portfolio Purchase from Prologis

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, acquired a 50% stake in a logistics portfolio through their joint venture with Prologis. The seller was Prologis who owned 100% of the portfolio. The portfolio is comprised of eight properties located in the United Kingdom, Poland and France with a total volume of 2.8 million square feet.

Property Locations
Daventry, United Kingdom
Minworth, United Kingdom
Kettering, United Kingdom
Vémars, France
Wroclaw, Poland

NBIM paid 155 million EUR for the 50% stake. The deal did not have any debt financing. The deal was completed on May 12, 2015. Prologis will continue to perform the asset management of the portfolio on behalf of the joint venture.

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