Norges Bank Investment Management, a Norwegian investment bank that also manages its Governments Pension Fund has taken over 50% of UK logistics property with an investment of £35.1 million.
The rest of the 50% stake would be taken over by Prologis, a real estate investment trust.
According to the agreement signed in July, the investment was completed at the end of August 2019.
The property does not come with any debt and is located in Greenford. Prologis would manage the entire property on behalf of the bank.
The total carpet area of the property is over 20,000 square meters and was previously owned by RM Coleview.