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ProLogis Forms Four Funds; $14B Capacity

DENVER-The lcoally based industrial REIT forms new funds for owning distribution centers in Europe, the US, Mexico and South Korea.

By Brian K. Miller | Updated on August 20, 2007

(Read more on the industrial market and the debt and equity markets.)

DENVER-ProLogis has four new property funds with a combined capacity of $14 billion. Each fund will own assets in one of four different geographic regions–Europe, the US, Mexico and South Korea–and will serve as the exclusive investment vehicle for properties from ProLogis’ development pipeline in that region. The funds also will have the ability to make third-party acquisitions in their respective regions.

The funds are part of the company’s strategy to grow its global customer base, redeploy capital and diversify its revenue while meeting investors return objectives. Jeffrey Schwartz, ProLogis chairman and CEO, says the new funds take to $33 billion the company’s capacity for assets under management.

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