Norway’s BIM boosts logistics portfolio across the EU

Norway’s NBIM boosts logistics portfolio: Norway’s sovereign wealth fund the Norges Bank Investment Management (NBIM) will acquire a portfolio of seven logistics properties across Europe by forming a JV with real estate company Prologis, Reuters reports. The projects cover over a leasable area of 201k sqm in Germany, Italy, Spain and the UK.

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Who owns what: NBIM acquired 49.5% for EUR 166 mn for an ownership interest, while Proglois, the seller, will maintain the remaining 50.5% to carry out asset management on behalf of the JV.