The partnership between Norges Bank Real Estate Management (NBIM) and Prologis has acquired six logistics properties in Chicago, Nashville and Orlando.
The sellers are ventures between Prologis and U.S. pension funds managed by J.P. Morgan Asset Management.
NBIM paid $87.7 million for its 45 percent interest. The portfolio is unencumbered by debt, and no financing was involved in the transaction.
The properties have a total area of 2.8 million square feet.
Recently, the joint venture acquired a logistics property and an adjacent land plot in Carlisle, Pa., which Prologis was the seller, and a logistics property in Seattle from Pepsico. In July the firms acquired a 307,781-square-foot logistics property in Orange County, Calif., from Barings. And it acquired a logistics property in San Francisco from Sanrio, Inc., earlier in 2018.
On the selling side, the venture sold a logistics property in Dallas to Kohler Co. And in April 2018, the joint venture
