Feb
27
Prologis, CBRE Global Investors Team Up for Big UK Effort
ByThe $1.2 billion logistics venture will pursue a develop-to-own strategy in prime markets in the East and West Midlands, London and the South East.
San Francisco—Prologis and CBRE Global Investment Partners, a division of CBRE Global Investors, have formed a new development venture in the United Kingdom, one worth at least $1.2 billion, the two companies announced Friday.
Dubbed Prologis UK Logistics Venture, the entity will pursue a develop-to-own strategy focusing on prime markets in the East and West Midlands, London and the South East. It will acquire land, develop buildings, and operate and hold logistics real estate and will be seeded with a 7.6 million-square-foot portfolio of stabilized properties, developments in progress and land, with an initial closing of about 3.9 million square feet…
