Prologis Launches China Joint Venture with Capacity Over USD $1 Billion

SAN FRANCISCO, Nov. 11, 2013 — Prologis, Inc. (NYSE:PLD), the leading global owner, operator and developer of industrial real estate, today announced the formation of Prologis China Logistics Venture 2. The venture’s investment strategy is to build, acquire and manage logistics properties in its global markets in China.

This venture follows Prologis China Logistics Venture 1 which was formed in March 2011. As with the first venture, Prologis will be partnering with HIP China Logistics Investments Limited.

“We are pleased to extend our relationship with HIP China Logistics Investments and are jointly committed to continuing our successful partnership in this new vehicle,” said Gary Anderson, CEO, Prologis Europe and Asia.  “With strong growth in consumption and a limited supply of Class-A distribution space, the Chinese logistics market continues to present compelling investment opportunities.”

The venture has potential investment capacity of over $1 billion, including $588 million of committed equity.

About Prologis
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 ofSeptember 30, 2013, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 562 million square feet (52.2 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.

West Coast Commercial Real Estate News