Prologis Announces the Liquidation of ProLogis European Properties
Prologis Assumes 100 Percent Control; PEPR Delists from Luxembourg and Amsterdam Stock Exchanges
SAN FRANCISCO, Sept. 6, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced it assumed 100 percent control of ProLogis European Properties' (PEPR) assets and liabilities. PEPR was a Luxembourg closed-ended investment fund (Euronext/Amsterdam: PEPR).
PEPR completed its delisting from the Luxembourg Stock Exchange and NYSE Euronext Amsterdam. Preferred unitholders received €6.030316 per unit. Ordinary unitholders received €6.55 per unit.
"We are excited to be ahead of schedule on assuming 100 percent control of PEPR's assets, and we will commence work on the recapitalization of this portfolio," said Guy F. Jaquier, CEO, Private Capital, Prologis.
The assets Prologis received from PEPR's liquidation include 210 distribution facilities covering 48.4 million square feet (4.5 million square meters) across 11 European countries. Occupancy in the portfolio was above market average at 93.2 percent with a diverse customer base.
Prologis, 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 June 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 569 million square feet (52.9 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.