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Norwegian Pension Funds Sells Off Two Logistics Assets

22 April 2016 – Expansión

The Norwegian Pension Fund has sold its 50% stake in two logistics assets in Spain, which it held jointly with Prologis, for €25.1 million. The operation has been performed through Norges Bank Real Estate Management, the company that it created in 2014 to independently manage its investments in the real estate sector, which it expects to account for 5% of its investment portfolio in the future.

The properties, which have a combined leasable surface area of 96,000 m2, are located in Valencia and Zaragoza. The Fund acquired the assets in March 2013 for €20.6 million.

Original story: Expansión (by A. Medina)

Translation: Carmel Drake