This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Prologis Board Of Directors Approves Sponsorship Of J-REIT

SAN FRANCISCO, Dec. 12, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced that its board of directors has approved the sponsorship of a Japanese real estate investment trust (J-REIT) to serve as a long-term investment vehicle for modern logistics facilities developed by Prologis in Japan.

Prologis initially expects to contribute 12 of its Class-A distribution centers to the J-REIT. The appraised value of the portfolio is approximately $2.1 billion ( JPY 173.4 billion). The portfolio, with a weighted average age of 3.4 years, totals approximately 10 million square feet (937,500 square meters) and is located principally in its Tokyo and Osaka markets.

"For more than a decade, Prologis has been building the highest-quality assets in Japan. Demand for Class-A facilities continues to grow given the fundamental reconfiguration of Japan's supply chain," said Hamid R. Moghadam, co-CEO and chairman, Prologis. "Given our industry-leading development capabilities and our global customer platform, Prologis is uniquely positioned to meet the needs of this important market."

The J-REIT would be managed by a wholly owned subsidiary of Prologis. Prologis would provide various pipeline and operational support to the J-REIT, including providing exclusive and/or preferential negotiation rights for additional properties developed by Prologis in Japan. As the sponsor, Prologis will act as the property and asset manager of the J-REIT. Accordingly, the company will receive asset and property management fees, as well as fees arising from the subsequent acquisition and disposition of properties.

This announcement is not an offer of securities for sale in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they are registered or exempt from registration.

About PrologisPrologis, Inc. is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of September 30, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 565 million square feet (52.5 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.

SOURCE Prologis, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,575.90 +135.31 0.78%
S&P 500 2,084.72 +17.08 0.83%
NASDAQ 5,066.9450 +27.1690 0.54%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs