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News Breaks | | | | January 10, 2013 | | 05:15 EDT |  | PLD | ProLogis invests in Japanese REIT
Prologis announced it will be the sole sponsor of Nippon Prologis REIT, or NPR, a Japanese real estate investment trust. Prologis will retain at least a 15% ownership interest in NPR and contribute 12 of its Class-A properties in Japan which will comprise the initial portfolio. The appraised value of the assets is approximately $2B. The portfolio, with a weighted average age of 3.4 years, totals 9.6M square feet, and is principally located in its global markets of Tokyo and Osaka. | |
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