A joint venture between Norges Bank Investment Management and Prologis has acquired a portfolio of 14 logistics properties in the UK.
Norges Bank Investment Management (NBIM) has paid £220 million for its 50 percent ownership interest.
The seller of the portfolio is Prologis UK Logistics Venture, a joint venture between Prologis and CBRE Investment Management.
The portfolio has a leasable area of 207 000 square meters.
Prologis will own the remaining 50 percent interest and will perform the asset management on the portfolio on behalf of the joint venture.