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NBIM Buys 50 Percent Interest in Daventry Logistics Property
Posted on 04/20/2021
The partnership between Norges Bank Investment Management (NBIM) and Prologis Inc. has acquired a logistics property in Daventry, in the U.K. The agreement was signed and completed on March 12, 2021. Norges Bank Investment Management paid 27.1 million pounds for its 50 percent ownership interest. The property is unencumbered by debt, and no financing was involved in the transaction. The seller of the property is Prologis. Prologis will own the remaining 50 percent interest and will perform the asset management on the property on behalf of the joint venture. The property has a leasable area of 40,423 square meters.