SAN FRANCISCO and TOKYO-Prologis, Inc. recntly announced the pricing of new investment units of Nippon Prologis REIT Inc. (NPR), proceeds from which will be used to acquire four class A properties from the company's Japan portfolio.

NPR priced its 32,190 units at 916,112 Japanese yen (about $9,000)per unit, which is net of forecasted distributions for the second fiscal period. The offering will comprise a domestic placement of 22,050 units and an international placement of 10,140 units.

NPR intends to use the proceeds from the issuance to acquire four class-A properties for JPY 54 billion (around $540 million). The properties will be acquired from Prologis' wholly owned Japan portfolio. The assets, totaling approximately 2.6 million square feet (242,000 square meters), were made available to NPR through its sponsor support agreement with Prologis. The offering is expected to close on Dec. 3 in Japan.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.

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