Norges Bank and Prologis acquire a portfolio of 14 logistics properties in the UK
21 January 2022
The partnership between Norges Bank Investment Management and Prologis has acquired a portfolio of 14 logistics properties in the UK.
The agreement was signed on 29 November 2021, and the transaction was completed on 3 December 2021.
Norges Bank Investment Management paid 220 million pounds for its 50 percent ownership interest. The portfolio is unencumbered by debt, and no financing was involved in the transaction.
The seller of the portfolio is Prologis UK Logistics Venture, a joint venture between Prologis and CBRE Investment Management.
Prologis will own the remaining 50 percent interest and will perform the asset management on the portfolio on behalf of the joint venture.
The portfolio has a leasable area of 207 000 square meters.
Source: Norges Bank Investment Management
