Fund disposes 50 percent stake in logistics properties
21 April 2016
Norges Bank Real Estate Management has sold a 50 percent interest in two logistics properties in Spain, through its joint venture with Prologis.
The agreement was signed 18 December 2015 and completed 11 February 2016. Norges Bank Real Estate Management disposed of its 50 percent stake for 25.1 million euro.
Norges Bank Real Estate Management bought the properties in March 2013 for 20.6 million euro. We have received rental income from the properties during the whole period.
The two properties have a total leasable area in excess of 96,000 square meters. The buildings are located in Zaragoza and Valencia in Spain.
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