ProLogis Closes ProLogis European Properties Fund II Financing
November 04 2009 - 9:00AM
PR Newswire (US)
- Proceeds Used to Pay Down Warehouse Line - DENVER, Nov. 4
/PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global
provider of distribution facilities, announced today it has
completed a euro 41.4 million financing on behalf of ProLogis
European Properties Fund II (PEPF II). Proceeds from the financing
were used to pay down PEPF II's warehouse line of credit. A
European bank based in Austria provided the five-year loan that is
secured by a portfolio of six assets in Poland, representing a 52
percent loan-to-value. "With this financing, we have demonstrated
our access to debt capital in the central European region with one
of the few new secured real estate loans to be completed there
during 2009. We also established a new lending relationship and are
pleased that lenders continue to be attracted to the strong and
stable cash flows generated by ProLogis' assets," said William E.
Sullivan, ProLogis' chief financial officer. About ProLogis
ProLogis is a leading global provider of distribution facilities,
with more than 475 million square feet of industrial space (44
million square meters) in markets across North America, Europe and
Asia. The company leases its industrial facilities to more than
4,500 customers, including manufacturers, retailers, transportation
companies, third-party logistics providers and other enterprises
with large-scale distribution needs. For additional information
about the company, go to http://www.prologis.com/. DATASOURCE:
ProLogis CONTACT: Investors, Melissa Marsden, +1-303-567-5622, , or
Media, Krista Shepard, +1-303-567-5907, , both of ProLogis; or
Financial Media, Suzannne Dawson of Linden Alschuler & Kaplan,
Inc., +1-212-329-1427, , for ProLogis Web Site:
http://www.prologis.com/
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