The partnership between Norges Bank Investment Management [1] and Prologis has acquired a portfolio of seven logistics properties located in Germany, Italy, Spain and the UK.
The agreement was signed and completed on 13 December 2024.
Norges Bank Investment Management paid 166 million euros [2] for its 49.5 percent ownership interest. The portfolio is unencumbered by debt, and no financing was involved in the transaction.
The seller of the portfolio is Prologis, which will own the remaining 50.5 percent interest and will perform the asset management on the portfolio on behalf of the joint venture.
The portfolio has a leasable area of 201,000 square meters.
[1] Norges Bank Investment Management is the fund management division of Norges Bank. All unlisted (or direct) investments in real estate and renewable energy infrastructure are made and managed by subsidiary structures set up by Norges Bank.
[2] The purchase price is composed of 73 million British pounds paid for the two properties located in the UK, and 78 million euros paid for the five properties located in Continental Europe. British pounds were converted to euros using an FX rate as of 13 December 2024.
Line Aaltvedt
Head of Communications
Cell phone: (+47) 94 85 46 56
Email: press@nbim.no
