Prologis sells pan European portfolio to Ares

By Paul Norman - Friday, February 09, 2018 13:37

Prologis has sold a major pan European portfolio of industrial assets to funds managed by Ares Management for an undisclosed price.

The portfolio comprises 21 assets totalling 450,930 sq m and three land sites totalling 276,700 sq m.

The assets are located throughout France, Germany, the Netherlands, Poland, Spain and the United Kingdom.

“This transaction is significant, both in terms of its geography and scope. Not only was this an agile team effort, but streamlining our portfolio is integral to our long-term capital deployment strategy which creates superior value for our investors and customers,” said Ben Bannatyne, president, Prologis Europe.

CBRE represented Prologis in the transaction, while JLL advised Ares Management.

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