Jun 04 2013
LondonMetric announces it has exchanged contracts on the sale of 11 distribution assets for a total consideration of £247.56 million, reflecting a net initial yield of 6.25%, to a joint venture between Prologis Europe and Norges Bank Investment Management. Ten of the assets were held in a 50% joint venture with Green Park Investments and the former Focus Distribution Centre at Tamworth was wholly owned by LondonMetric. The assets were sold at a premium to current book value.
The full announcement can be found in the attached file.
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