Prologis Announces $25 Billion in Investment Activity for 2020

Prologis, Industrial

SAN FRANCISCO, Jan. 14, 2021 — Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today released its investment activity results for year-end 2020 and announced an important executive promotion. In 2020, Prologis completed $25.0 billion of investment activity on an owned and managed basis.

From the ProLogis – AMB merger in 2011 to year-end 2020, Prologis has completed investment transactions totaling over $131.4 billion in 30 global markets. The company’s investment and development activities have ranged from the largest M&A transactions in the real estate sector to individual off-market deals under $5 million.

Details of investment activity:
Owned and Managed ($B)FY 202020111) – 2020
Mergers & Acquisitions$17.0$62.3
Development Starts$2.7$22.1
Building Acquisitions2)$2.0$10.7
Building & Land Dispositions2)$1.5$17.8
Contributions$1.8$18.5
Value Creation from Stabilizations (PLD Share)$0.9$5.0
1)        Since merger in June 2011
2)        Includes acquisitions and dispositions of other real estate investments

“Despite the disruption and uncertainty of this past year, investment activity across our global platform continued unabated, reflecting the strong demand for high-quality logistics real estate in the best locations around the world,” said Hamid R. Moghadam, chairman and CEO, Prologis. “Our portfolio and development-ready land bank near large population centers continue to be a competitive advantage for our customers.”

Prologis has created a new senior role to bolster its growing global capital deployment efforts, naming long-time Prologis employee Dan Letter as global head of Capital Deployment effective January 1, 2021. Letter reports to Prologis chief investment officer Eugene F. Reilly.

Letter is responsible for the company’s Investment Committee process, capital deployment forecasting, deployment pipeline management and multi-market portfolio acquisitions and dispositions. He will work with Reilly and the company’s Research and Valuations teams to review the company’s investment strategies which now include fast-growing Urban Last Touch® and Customer-Led Development segments. Letter was previously president of the company’s Central Region, a role being assumed by Prologis veteran Carter Andrus. Letter joined AMB in 2004, and has since served in multiple Capital Deployment roles in the Central and West Regions.

“Dan has consistently achieved outstanding financial results, demonstrated excellent leadership and led the way in numerous customer-focused initiatives, including Prologis’ global Urban Last Touch® program and its digital transformation,” said Reilly. “This new role places more senior-level resources behind our investment activities globally at a time when the logistics real estate sector is becoming more complex and attracting greater demand from our customers and investors.”  

ABOUT PROLOGIS

Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 976 million square feet (91 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.

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