SAN FRANCISCO, Dec. 5, 2016 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the global leader in industrial 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 13.7 billion ($122 million), for the repayment of the bridge
loans used to acquire three Class-A properties for approximately
JPY 30.6 billion ($272 million). The properties will be acquired
from Prologis' wholly owned Japan
portfolio. The assets, totaling approximately 1.7 million square
feet (153,440 square meters), were offered to NPR through its
sponsor support agreement with Prologis. The issuance is expected
to close December 19, 2016 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 September 30,
2016, 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 665 million
square feet (62 million square meters) in 20 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.
FORWARD-LOOKING STATEMENTS
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.
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SOURCE Prologis, Inc.