Us Prologis Pours Another 91.7m Euro In Real Estate Across Europe

ProLogis European Properties, a subsidiary of the United States-based company ProLogis, specialised in logistic space, plans to invest another 91.7 million euro in real estate across Europe, Europe RE real estae website reported.

The amount will be invested through the company’s investment fund ProLogis European Properties Fund II (PEPF II). The fund was set up in August last year by ProLogis, when it announced its plans to pour 600 million euro in property by the end of 2007.

The latest statement said that the new 91.7 million euro “tranche” will be secured through bank loans and will boost the investment in PEPF II to 225 million euro out of the 900 million euro “master plan.”

ProLogis has contributed to the fund 27 modern distribution centres in seven European countries with a total area of 660 000 sq m. The developments have been rented out to high-profile tenants, such as DHL, Kuehne & Nagel, Tesco and Volkswagen.

Three of these units were developed by Parkridge, which was acquired by ProLogis in 2007, and the rest of the establishments were constructed by ProLogis itself.

ProLogis was established in 1991 and its current portfolio is estimated at 510.2 million sq m industrial areas, located in 118 countries, rented out to 5 000 clients. The company was listed on the New York Stock Exchange in 1994 and since then has increased the value of its portfolio from 400 million dollars to 36 billion dollars, according to its website.propertywisebulgaria.com