Norges Bank and Prologis acquire €5.5 bln industrial portfolio (US/EU)

Norges Bank Investment Management has signed an agreement to acquire a 45% interest in a 60 million ft² (5,574 m²) industrial portfolio with additional development potential in a joint venture with Prologis.
The agreement was signed 17 April 2015, and closing is expected to occur within 30 to 60 days.
Norges Bank Investment Management will acquire its 45% interest for 2.3 bln dollars, valuing the portfolio at 5.9 bln dollars (€5.5 bln). The vendor is KTR Capital Partners.
The portfolio consists of 322 operating properties located across 17 US states.
Prologis will acquire a 55% interest in the portfolio and will perform the asset management on behalf of the partnership.
Source: Norges Bank Investment Management

Related News