Prologis Lists Japanese Real Estate Investment Trust on Tokyo Stock Exchange
- Nippon Prologis REIT, Inc. (NPR) commenced trading on February 14 -
- Contributed 12 Class-A properties for approximately JPY 173 billion ($1.9
SAN FRANCISCO, Feb. 15, 2013
SAN FRANCISCO, Feb. 15, 2013 /PRNewswire/ --Prologis, Inc. (NYSE: PLD), the
leading global owner, operator and developer of industrial real estate,
announced that Nippon Prologis REIT, Inc. (NPR) – a Japanese real estate
investment trust – has successfully completed its initial public offering in
Japan. Prologis executives participated in a ceremonial bell ringing at the
Tokyo Stock Exchange during the first day of trading for NPR.
NPR completed an IPO of 182,350 units, comprised of a domestic offering of
109,410 units (60 percent of units outstanding) and an international placement
of 72,940 units (40 percent of units outstanding). Prologis will retain at
least a 15 percent ownership interest in NPR.
"We are very pleased with the exceptionally strong interest in NPR's initial
public offering, which highlights the quality of our industry-leading team and
portfolio," said Hamid Moghadam, chairman and CEO, Prologis. "NPR provides
investors with a unique investment opportunity and further positions Prologis
for sustained growth in Japan."
Prologis contributed 12 Class-A properties in Japan to NPR (3283:Tokyo Stock
Exchange) for initial consideration of approximately JPY 173 billion ($1.9
billion). Inclusive ofNPR's concurrent borrowings, net cash proceedsto
Prologis from the sale were JPY153billion ($1.7 billion), before the
greenshoe option. Prologis intends to usethe proceeds primarily for the
repayment of debt and future investment in Japan.
NPR has exclusive negotiation rights for eight additional properties owned by
Prologis, and will receive pipeline, operational and personnel assistance
under a sponsor support agreement. In addition, wholly owned subsidiaries of
Prologis will serve as NPR's property and asset managers.
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.
Prologis, Inc. is the leading global provider and operator of logistics
infrastructure, focused on global and regional markets across the Americas,
Europe and Asia. As of Dec. 31, 2012, Prologis owned or had investments in, on
a consolidated basis or through unconsolidated joint ventures, properties and
development projects expected to total approximately 554 million square feet
(51.5 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
SOURCE Prologis, Inc.
Contact: Tracy Ward, +1-415-733-9565, email@example.com, or Atle Erlingsson,
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