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Norway's Swf, Prologis Sell $245m Us Logistics Assets To Blackstone | News | Ipe Ra

by posted 1year ago 108 views
Partnership continues US logistics disposals, but buys in San Francisco. : Norway’s sovereign wealth fund has sold a portfolio of 27 logistics properties in the US via its ongoing partnership with Prologis, while buying a new logistics asset. Norges Bank Real Estate Management (NBREM), which manages property investment for the NOK8.4trn (€877bn) Government Pension Fund Global (GPFG), said it received $110.1m (€87.9m) for its 45% ownership interest in the 27-asset portfolio, implying the entire portfolio sold for around $245m. The partnership sold the buildings — which have 3.1m sqft of leasable space — to Blackstone affiliate BRE Alpha Industrial Property Owner.