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.”
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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