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Prologis closes pan-European portfolio sale to Ares Management

Prologis has sold a portfolio of assets to funds managed by Ares Management, L.P. The portfolio comprises 21 assets totalling 450,930 square metres and three land sites totalling 276,700 square metres. The assets are located throughout France, Germany, the Netherlands, Poland, Spain and the United Kingdom. According to information of the market, the purchase price should be between €250 and 300m.
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“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,” says Ben Bannatyne, president, Prologis Europe.

As early as December, Prologis has sold four logistics properties in Italy to Carlyle [The Carlyle Group acquires 210,000 sqm of assets].