Prologis has sold a UK portfolio to real estate funds managed by Blackstone for £473m in what is thought to be the largest logistics deal ever in the UK.
The majority of assets sold were acquired from Liberty Property Trust following Prologis’ acquisition of the company in February this year.
The portfolio compromises 22 buildings totalling 4.3m sq ft in the Midlands, South West and North West, and 31 acres of consented development land across Staffordshire and Widnes.
Prologis UK regional head and senior vice president Paul Weston said: “This transaction completes the realignment of our UK portfolio with our long-term investment strategy in key distribution locations in the Midlands and the South East… the outcome demonstrates the strength of the logistics sector as an investment asset class.”
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