SAN FRANCISCO, March 5, 2018 /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) priced investment units at 224,812 Japanese yen per unit, including the
over-allotment option. The offering will comprise a domestic
placement of 77,400 units and an international placement of 51,600
units. Prologis will retain its 15 percent ownership interest in
NPR.
NPR will use the proceeds from the issuance to repay bridge
loans used to acquire five Class-A properties for JPY 61.9 billion ($579.4
million). The assets, totaling 284,620 square meters (3.1
million square feet), were made available to NPR through its
sponsor support agreement with Prologis. Three properties were
acquired from Prologis' wholly owned Japan portfolio on March 1 and the remaining two properties will be
acquired upon their respective 2018 completion dates of
October 1 and December 3. The issuance is expected to close
March 12, 2018 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
December 31, 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 684 million square feet (64 million
square meters) in 19 countries. Prologis leases modern distribution
facilities to a diverse base of approximately 5,000 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.