Prologis

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Prologis, Inc.
Public
Traded as NYSE: PLD
S&P 500 Component
Industry Real estate investment trusts
Genre Industrial properties
Founded 1983
Founder Hamid Moghadam, Doug Abbey and T. Robert Burke
Headquarters San Francisco, USA
Area served
 North and South America, Europe, Asia
Key people
 Hamid R. Moghadam
(Chairman and CEO)
Gary E. Anderson
(CEO, Europe and Asia)
Eugene F. Reilly
(CEO, Americas)
Products Commercial real estate
Total assets Increase US$ 51.1 billion (2014)[1]
Number of employees
 1,400
Website http://www.prologis.com/

Prologis, Inc. is a global industrial real estate investment trust (REIT).[2] The company is the owner, manager and developer of approximately 3,000 logistics and distribution facilities in markets across the Americas, Asia and Europe, and serves approximately 4,700 customers across a diverse range of industries.[2][3][4]

Prologis operates as a publicly traded company[5] and is a member of the S&P 500.[6]

In 2011, ProLogis and AMB Property Corporation completed a merger to create Prologis, which Forbes called the "World's Biggest Industrial Property Company."[7][8][9] As of the first quarter 2014, Prologis had $51 billion in total assets under management.[2]

Prologis’ corporate headquarters is located in San Francisco, California.[4]

History

In 1983, Hamid Moghadam and Doug Abbey founded Abbey, Moghadam and Company with a $50,000 line of credit. They were joined by Robert Burke in 1984 and established AMB, a legacy Prologis company that invested in office, industrial and community shopping centers on behalf of large institutional investors.[10]

In 1991, Security Capital Trust (SCI), a legacy company to Prologis, was incorporated.[11] In 1994, SCI made an initial public offering (IPO) on the New York Stock Exchange.[11] In 1997, AMB closed its IPO with more than $2.8 billion under management.[10]

In 1998, SCI officially changed its name to ProLogis.[12] Also in 1998, the company acquired Meridian Industrial Trust for $1.5 billion.[13] In 2004, ProLogis acquired Keystone Industrial Trust for $1.5 billion.[14] In the same year, ProLogis formed its first joint venture in China with Suzhou Logistics Center Co. Ltd.[10] In 2005, ProLogis completed a merger with Catellus Development Corporation, a North American industrial development company, for $5.3 billion.[15]

In 2011, ProLogis closed the sale of a majority of Catellus retail and mixed-use assets to affiliates of TPG Capital for $353 million, including rights to the Catellus name.[16] During the same year, AMB formed a euro 470 million joint venture with Allianz Real Estate.[17] Also in 2011, ProLogis and AMB completed a “merger of equals” to create the largest industrial real estate company in the world, with more than $40 billion in assets under management and a platform of logistics and distribution facilities on four continents.[7][9][18]

In 2013, Nippon Prologis REIT, Inc., a Japanese real estate investment trust formed by Prologis, successfully completed an IPO on the Tokyo Stock Exchange.[19] Also in 2013, Prologis European Logistics Partners Sarl, a joint venture with Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global, closed an initial acquisition of 195 Class-A properties in Europe comprising 49msf (4.5msm).[20]

Business

Prologis operates as a publicly traded company[5] and is a member of the S&P 500.[6] Prologis is focused on three business lines: Operations (leasing, managing buildings);[2][4] Capital Deployment (development and acquisitions of properties);[21] and Strategic Capital (raising capital).[1][22]

References

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  10. ↑ 10.0 10.1 10.2 Lua error in package.lua at line 80: module 'strict' not found.
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External links

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