SAN FRANCISCO, Feb. 26, 2018 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the global leader in logistics real estate, today
announced that Japanese real estate investment trust Nippon
Prologis REIT, Inc. (NPR), will issue new investment units.
Prologis will retain its 15-percent ownership interest in NPR.
NPR intends to use the net proceeds from the issuance, estimated
at JPY 29.5 billion ($276.1 million), for the repayment of the bridge
loans used to acquire five Class-A properties for JPY 61.9 billion ($579.4
million). Three properties will be acquired from Prologis'
wholly owned Japan portfolio on
March 1 and the remaining two
properties upon their respective 2018 completion dates of
October 1 and December 3. The assets, totaling 284,620 square
meters (3.1 million square feet), were offered to NPR through its
sponsor support agreement with Prologis. The issuance is expected
to close March 12, 2018 in
Japan.
NPR is managed by a wholly owned subsidiary of Prologis.
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.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a
focus on high-barrier, high-growth markets. As of December 31, 2017, 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 684 million square feet (64 million square meters) in
19 countries. Prologis leases modern distribution facilities to a
diverse base of approximately 5,000 customers across two major
categories: business-to-business and retail/online fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations, estimates and
projections about the industry and markets in which we operate as
well as management's beliefs and assumptions. Such statements
involve uncertainties that could significantly impact our financial
results. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates" and variations of such
words and similar expressions are intended to identify such
forward-looking statements, which generally are not historical in
nature. All statements that address operating performance,
events or developments that we expect or anticipate will occur in
the future — including statements relating to rent and occupancy
growth, development activity and changes in sales or contribution
volume of properties, disposition activity, general conditions in
the geographic areas where we operate, our debt, capital structure
and financial position, our ability to form new co-investment
ventures and the availability of capital in existing or new
co-investment ventures — are forward-looking statements. These
statements are not guarantees of future performance and involve
certain risks, uncertainties and assumptions that are difficult to
predict. Although we believe the expectations reflected in any
forward-looking statements are based on reasonable assumptions, we
can give no assurance that our expectations will be attained and
therefore, actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements.
Some of the factors that may affect outcomes and results include,
but are not limited to: (i) national, international, regional and
local economic climates, (ii) changes in financial markets,
interest rates and foreign currency exchange rates, (iii) increased
or unanticipated competition for our properties, (iv) risks
associated with acquisitions, dispositions and development of
properties, (v) maintenance of real estate investment trust status,
tax structuring and income tax rates (vi) availability of financing
and capital, the levels of debt that we maintain and our credit
ratings, (vii) risks related to our investments in our
co-investment ventures, including our ability to establish new
co-investment ventures and funds, (viii) risks of doing business
internationally, including currency risks, (ix) environmental
uncertainties, including risks of natural disasters, and (x) those
additional factors discussed in reports filed with the Securities
and Exchange Commission by us under the heading "Risk Factors." We
undertake no duty to update any forward-looking statements
appearing in this document.
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SOURCE Prologis, Inc.