Morgan Stanley Real Estate Funds is said to be closing in on the purchase of a £180 mln (EUR 204 mln) portfolio of industrial properties from Prologis.

According to a report by Property Week, MSREF has already agreed a deal to buy the Teal portfolio of 10 properties.

If successful, it would be the first major investment in the UK market by MSREF since 2005, when it bought a £1 bn development portfolio from The Royal Bank of Scotland.

Prologis appointed CBRE and Dowley Turner Real Estate earlier this year to market the assets.

Prologis declined to comment on Thursday.