Prologis (PLD) Completes $360M of North American Dispositions in Q1

Prologis, Inc. (NYSE: PLD), announced that during the first quarter of 2012, the company completed approximately $360 million in third-party land and building dispositions in the United States and Mexico, of which approximately $250 million was the company's share.

Dispositions comprised:

• Approximately $135 million of buildings, from the Prologis North American Fund XI, of which $25 million was the company's share. This fund has one remaining property; and
  
  
• Approximately $225 million of land and buildings from the company's balance sheet in 11 separate transactions.

In addition, consistent with the company's stated goal of streamlining its private capital business, Prologis continued the rationalization of its co-investment ventures into fewer, more profitable and differentiated investment vehicles. During the first quarter the company:

• Purchased its partner's interest in Prologis North America Fund II and brought the entire $1.6 billion portfolio directly onto its balance sheet, as previously announced; and
  
  
• Terminated the Prologis California Fund, dividing the portfolio equally with its partner and bringing Prologis' 50 percent share of the fund's $1.1 billion of real estate directly onto its balance sheet.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Boeing names Ryan Shedd as new SVP and controller
• loanDepot receives NYSE non-compliance notice over stock price
• enVVeno Medical (NVNO) files $100M mixed shelf