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Prologis Completes Sale of $1.1B Portfolio to Asian Investor
San Francisco-based Prologis, Inc. completed the sale of a high-quality portfolio of buildings and land in Europe and the United States, reportedly to Singapore-based Mapletree, for $1.1 billion.
The portfolio comprises 16.5 million square feet of buildings, as well as 144 acres of land, including:
– 46 buildings totaling 9.9 million square feet principally in Poland, France and Hungary
– 40 buildings totaling 6.6 million square feet primarily in Seattle, Dallas and Chicago
The transaction included $934 million of assets from Prologis’ co-investment ventures and $195 million in wholly- owned assets. Prologis’ share of the proceeds totaled roughly $610 million.
Prologis’ Michael S. Curless says, “This transaction effectively completes our efforts to align our portfolio with our long-term investment strategy. Our portfolio realignment program began in 2011 and, upon completion in the fourth quarter of this year, will total approximately $14 billion of building sales on an owned and managed basis.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
