Prologis European Logistics Partners Sarl acquires 11 properties in United Kingdom (UK)

Prologis, Inc today announced that Prologis European Logistics Partners Sarl (PELP) purchased 11 buildings in the United Kingdom. PELP is a 50/50 joint venture between Prologis and Norges Bank Investment Management (NBIM). This is PELP's first acquisition since its formation in March.

The high-quality distribution facilities, totaling approximately 2.45 million ft² (approx. 227,000 m²), are located in the West London, the South East and Midlands markets of the UK.

"This acquisition is a unique opportunity to purchase high-quality assets in the United Kingdom that complement PELP's existing portfolio," said Gary Anderson, CEO, Prologis Europe & Asia. "Demand for logistics infrastructure in the UK is rising at a time when the construction of new facilities is at a historic low. These strategically-located properties complement our existing portfolio and will allow us to better meet the needs of our customers."

With this acquisition, PELP's portfolio includes 206 class-A logistics facilities totaling 51.2 million ft² (approx. 4.8 million m²) in Europe.

Source: Prologis

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