LondonMetric sheds portfolio
Prologis and Norges Bank Investment Management have exchanged contracts to buy a portfolio of 11 sheds from LondonMetric for £247.6m - a 6.25% yield. The 2.4m sq ft portfolio is let primarily to third-party logistics operators. Jones Lang LaSalle represented Prologis and Norges; Dowley Turner Real Estate advised LondonMetric.
US investor in Europe debut
US private equity firm KKR and Quadrant Estates are buying the 430,000 sq ft Tuscany retail park portfolio from Resolution Property for £112.5m - a circa 7.5% yield. The portfolio, KKR's first European purchase, includes parks in Sunderland, Glasgow and Oxford. CBRE and