Fund acquires additional logistic properties
2 September 2014
Norges Bank Investment Management has acquired a 50 percent interest in a logistics portfolio through its joint venture with Prologis.
The portfolio includes eight buildings with a total leasable area in excess of 150,000 square meters and two land parcels totalling 14.9 hectares. The buildings are located in Madrid and Barcelona.
The agreement was signed and completed 22 August 2014. Norges Bank Investment Management has paid a total of €242 million for its 50 percent stake across four transactions following the creation of the joint venture in 2013.
Prologis will perform the asset management of the portfolio.