Prologis European Logistics Partners, the 50-50 joint venture between Prologis and Norway's massive oil pension fund, has acquired Sainsbury’s Waltham Abbey Distribution Centre in the UK from German fund manager Deka Immobilien.

Prologis European Logistics Partners, the 50-50 joint venture between Prologis and Norway's massive oil pension fund, has acquired Sainsbury’s Waltham Abbey Distribution Centre in the UK from German fund manager Deka Immobilien.

The parties agreed not to disclose the sales price.

The logistics property acquired by Deka Immobilien for the open-ended real estate fund Deka- ImmobilienEuropa in 2009 comprises a total lettable area of 65,400 m2 and is fully let to Sainsbury’s Supermarkets Limited.

The sale enables the fund to generate a profit for its investors by benefiting from the current high demand for well-located logistics properties in the UK, Deka Immobilien said.

This is the latest in a string of investment transactions by the joint venture between logistics specialist Prologis and Norway's €650 bn Norway Government Pension Fund Global.

Click on the links below for more on deals in Spain and the Netherlands.