Norges Bank Sells Logistics
Norway The partnership between Norges Bank Real Estate Management and Prologis has sold 37 logistics properties located in Seattle, Chicago, Dallas, New Jersey, South Florida, France, Poland, Hungary and the Netherlands.
The agreements were signed on 16 May 2018, and the transaction was completed on 1 October 2018.
Norges Bank Real Estate Management received 182.6 million US dollars for its 45 percent ownership interest in the US portfolio and 90.2 million euro for its 50 percent ownership in the European portfolio. The properties were acquired as part of larger portfolio transactions spanning from March 2013 to May 2015.
The buyer of the portfolio is Mapletree.
The buildings have a total leasable area of 8.4 million square feet.