Darren Downs, senior portfolio manager at Henderson, said: “The Prologis unit fits well within our client requirements. We recognised an excellent opportunity to acquire an asset offering good long-term investment prospects, given the rare length of the lease and the quality of both tenant and building, at a secure yield of 7% plus. We are also optimistic that we will see further yield compression, allowing us to extract optimal performance for our investor”

Jones Lang LaSalle acted for HGI and Cushman & Wakefield for the vendor.

Source: Henderson