Prologis, Inc. said Tuesday it had cleared all redemption requests as of June 30 for its two major strategic capital funds, Prologis European Logistics Fund (PELF) and Prologis U.S. Logistics Fund (USLF). The company also announced an additional commitment of $500 million to the funds, €250 million in PELF and $250 million in USLF.
The new infusion of capital will allow the funds to further invest in high-quality industrial real estate assets, San Francisco-based Prologis said.
“Industrial real estate continues to be an attractive place for capital investment, especially USLF and PELF’s well-located and high-quality portfolios,” said Karsten Kallevig, managing director, global strategic capital at Prologis. “These vehicles have proven to have exceptional performance across market cycles. Now that external valuations have caught up with the market, we view this as a good time to invest.”
With portfolios spanning 161 million square feet and 123 million square feet, respectively, PELF and USLF operate in high-growth markets worldwide, with properties in major centers of commerce.
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).