The Norwegian wealth fund, NBIM, has formed its first partnership with Ares, establishing a €1.5bn logistics joint venture in Europe. NBIM will hold a 96% stake in the new venture, marking a significant expansion of its real estate portfolio. The move comes as NBIM’s two principal industrial partners in the region are merging, prompting a strategic shift in its European operations.
The joint venture aims to capitalize on growing demand for logistics and warehouse spaces across the continent, driven by e-commerce growth and supply chain restructuring. Ares, a global alternative investment manager, will contribute its expertise in real estate acquisition and asset management. The partnership reflects NBIM’s continued commitment to expanding its real estate holdings, particularly in sectors with strong long-term growth potential.
The venture is expected to close in the coming months, with initial acquisitions already under discussion.
Source: Real Estate Investor · Summarized by HeadlinesBriefing