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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Market

LondonMetric sells Warehouses to Norwegian wealth fund venture

Posted on 05 June 2013

LondonMetric Property Plc (LMP), a real estate investment trust created by a takeover last year, agreed to sell logistics centers in a deal valued at 247.6 million pounds ($379 million) including debt to a company owned by Prologis Inc. (PLD) and Norway’s sovereign-wealth fund.
LondonMetric would receive 68.3 million pounds after repayment of debt and fees for the 11 warehouse properties with 2.4 million square feet (223,000 square meters) of combined space, the London-based company said in a statement today. The deal’s net initial yield is 6.25 percent, it said………………………………………..Full Article: Source


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