The transaction closed 10 April 2015. Norges Bank Investment Management paid 28.5 million dollars for its 45 percent stake, valuing the properties at 63.3 million dollars. The transaction did not include any debt financing.
The properties are located on 4101-4601 6th Avenue South in Seattle, Washington, and have a leasable area of 385,300 square feet in total.
Prologis will acquire a 55 percent interest and perform the asset management of the properties on behalf of the partnership.