Prologis Targeted European Logistics Fund Acquires 137,440 Square Metres in Marseille
PARIS - (8 September 2015) - Prologis, Inc., the global leader in industrial real estate, today announced that Prologis Targeted European Logistics Fund (PTELF) has acquired five modern buildings, totaling 137,440 square metres, in Marseille.
This acquisition increases the size of Prologis’ portfolio in the Clesud area to 13 buildings, totalling 361,880 square metres. It also extends the portfolio into two new locations, Saint-Martin-de-Crau and Fos-sur-Mer.
“This was a great opportunity to purchase high-quality assets that are let to an established retail company and which complement PTELF's existing portfolio,” said Ali Nassiri, fund manager, PTELF. “These investments align well with the fund strategy to reinforce its presence in long-term global markets.”
Four of these buildings will remain occupied by Maisons du Monde, a retail company specializing in furniture and decorative objects, in new 12 year leases.
François Rispe, regional head southern Europe, Prologis,added: “This acquisition reinforces our presence in Marseille, which is a growing market with significant potential. At the same time, we are delighted to welcome Maisons du Monde as a new customer”.
Prologis was assisted by Vianney Laporte, Etude Attal & associés, and Franklin et associés office. CBRE advised the vendor in this transaction.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 64 million square meters in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,200 customers across two major categories: business-to-business and retail/online fulfillment.
The statements in this release 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 Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis' financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," 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 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 ("REIT") status and tax structuring, (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 and funds, 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 Prologis under the heading "Risk Factors." Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Prologis : Nathalie Triolet, Tél : +33 1 48 14 54 51, [email protected], Paris
Agence Dehais : Michelle Kamar, Tél : +33 1 53 53 36 84, [email protected], Paris