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Stock Market & Financial Investment News

News Breaks
December 27, 2012
16:08 EDTPLDProLogis co-CEO Walter Rakowich to retire December 31
Prologis announced that Walter C. Rakowich, co-CEO and member of the executive committee on the board of directors, will retire from both positions on December 31. As announced in January 2011 at the time of the AMB and ProLogis merger, Hamid R. Moghadam will assume the role of CEO and chairman on January 1.
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August 26, 2014
05:35 EDTPLDPrologis announces Nippon Prologis REIT issuance of new investment units
Prologis announced that Japanese real estate investment trust Nippon Prologis REIT, or NPR, will issue new investment units. Prologis will retain its 15% ownership interest in NPR. NPR intends to use the net proceeds from the issuance, estimated at $374M, for the repayment of the bridge loans used to acquire five Class-A properties for approximately $448M. The properties will be acquired from Prologis' wholly owned Japan portfolio. The assets, totaling approximately 2.4M square feet, were offered to NPR through its sponsor support agreement with Prologis. The acquisition is expected to close September 1 in Japan. NPR is managed by a wholly owned subsidiary of Prologis.
August 18, 2014
09:02 EDTPLDPrologis leases 225,000 square feet to Jaguar Rover in UK development
Prologis announced a new lease agreement for 225,000 square feet at Prologis Park Ryton in the United Kingdom, with Jaguar Land Rover. The facility, which is part of Jaguar Land Rover's recently launched special operations division, will be the company's global hub for the creation of its high-performance, luxury bespoke vehicles. The new facility, completed this May, is proximate to Jaguar Land Rover's headquarters, and is well-located at the heart of the motorway network, within easy reach of the M6, M69 and M40/M5. Prologis owns and manages approximately 20 million square feet of logistics and distribution space in the U.K. as of June 30, 2014.

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