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August 04, 2015 3:10 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Prologis LP

Company Overview

AMB Property, L.P. engages in the acquisition, development, and operation of industrial properties in North America, Europe, and Asia. Its industrial properties principally include logistics facilities, centers, or warehouses; distribution facilities, centers, or warehouses; and high throughput distribution facilities. The company, through its subsidiaries, also provides real estate investment services; and develops projects for sale or contribution to third parties. As of March 31, 2007, it owned or had investments in properties and development projects of approximately 128.2 million rentable square feet; and 1,101 buildings in 40 markets within 13 countries. The company also managed approx...

Pier 1 Bay 1

San Francisco, CA 94111

United States

1,505 Employees

Phone:

415-394-9000

Fax:

415-394-9001

Key Executives for Prologis LP

Chairman of AMB Property Corporation, Chief Executive Officer of AMB Property Corporation and President of AMB Property Corporation
Age: 58
Chief Accounting Officer of AMB Property Corporation and Senior Vice President of AMB Property Corporation
Age: 47
Compensation as of Fiscal Year 2015.

Prologis LP Key Developments

Prologis, Inc. and Prologis, L.P. Enters into $1.0 Billion Unsecured Senior Term Loan Facility with Various Lenders and Bank of America N.A

On May 28, 2015, Prologis, Inc. (Prologis) and Prologis, L.P. (the Operating Partnership) entered into a new $1.0 billion unsecured senior term loan facility with various lenders and Bank of America N.A., as Administrative Agent. As part of the financing for the Acquisition, on May 28, 2015, the Operating Partnership borrowed $1.0 billion (the full amount available) under the Facility. Loans under the Facility are scheduled to mature on May 27, 2016, but the Operating Partnership may, at its option and subject to the satisfaction of certain conditions and payment of an extension fee, extend the maturity date on a single occasion for a period of one year. Pricing under the Facility, including the spread over LIBOR, varies based upon the public debt ratings of the Operating Partnership as in effect from time to time. The Facility contains representations, covenants (including certain financial tests applicable to Prologis) and defaults (including cross payment default and cross-acceleration to other recourse indebtedness of more than $100,000,000) that are substantially the same as the corresponding provisions of the other major unsecured credit facilities of Prologis and the Operating Partnership. Prologis has unconditionally guaranteed all obligations of the Operating Partnership under the Facility.

Prologis, L.P. Announces the Closing of €700 Million of Guaranteed Notes Due 2021

Prologis, L.P. announced that it has closed its previously announced offering of €700 million (approximately $786 million) aggregate principal amount of 1.375% notes due May 13, 2021. The notes are senior unsecured obligations of the Operating Partnership and are fully and unconditionally guaranteed by Prologis Inc. The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.

Prologis, L.P. Prices EUR 600 Million of Guaranteed Notes Due 2020

Prologis, L.P. has priced an offering of EUR 600 million aggregate principal amounts of notes due October 7, 2020, that have an annual coupon rate of 1.375% and were priced at 99.834% of the principal amount. The notes will be senior unsecured obligations of the Operating Partnership and will be fully and unconditionally guaranteed by Prologis Inc. The sale of the notes is expected to close on or about October 7, 2014, subject to customary closing conditions. The offering has been made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The operating partnership intends to use the net proceeds for general corporate purposes, including the acquisition and development of European properties and additional investments in its European co-investment ventures. In the short term, the operating partnership intends to use the net proceeds to repay borrowings under its global line of credit and/or its multi-currency senior term loan.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 11, 2015
Portfolio of 8 Class-A Operating and Development Properties Totaling 3.2 million Square Feet
 

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