Norges Bank Makes New Major Logistics Investment

Norway Norway The partnership between Norges Bank Real Estate Management and Prologis has acquired a logistics property and an adjacent land plot in Carlisle, Pennsylvania and a logistics property in Seattle, Washington.

2018-10-22

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The agreement on the acquisition in Carlisle was signed and completed on 31 August 2018. Norges Bank Real Estate Management paid 39.7 million US dollars for its 45 percent ownership interest. The asset is unencumbered by debt, and no financing was involved in the transaction. The property has a total leasable area of 1,029,600 square feet. The agreement on the acquisition in Seattle was signed on 30 July 2018, and the transaction completed on 5 September 2018. The seller of the property is Prologis.

Norges Bank Real Estate Management paid 29.3 million US dollars for its 45 percent ownership interest. The asset is unencumbered by debt, and no financing was involved in the transaction. The seller of the property is Pepsico. The property has a total leasable area of 173,884 square feet.

The partnership has also sold two logistics properties located in Chorzow, Poland. The transaction was signed and completed on 20 July 2018. Norges Bank Real Estate Management received 25.0 million euro for its 50 percent ownership interest. The properties were acquired in March 2013 as part of a larger portfolio across Europe. The buyer of the properties is Prologis European Logistics Fund. The properties have a total leasable area of 89,409 square meters.




Axel Ohlsson
axel@nordicpropertynews.com




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