Prologis Acquires 2.5 Million Square Feet in Europe - See more at: http://otp.investis.com/clients/us/prologis/usn/usnews-story.aspx?cid=848&newsid=18116#sthash.ZsgYpzlP.dpuf [Real Estate]
Prologis, Inc. announced that Prologis European Properties Fund II ("PEPF II") has acquired a portfolio of approximately 2.5 million square feet (230,000 square meters) in the Czech Republic, Poland and Slovakia.
The portfolio encompasses 23 Class-A distribution centers, including:
17 properties totaling 1.75 million square feet (163,000 square meters) in Prague. Prologis Park Prague-Rudna is located on the D5 highway, with direct connection to Germany and proximity to Prague International Airport;
Four properties totaling 596,000 square feet (55,400 square meters) in Warsaw. Prologis Park Warsaw-Zeran is located near the Warsaw city center east of the A2 highway, a key regional transport route; and
Two properties totaling 124,900 square feet (11,600 square meters) in Bratislava. These facilities are adjacent to Prologis Park Bratislava and include 19.3 acres of land with a build-out potential of 413,000 square feet (38,400 square meters) of logistics space.
"We are pleased to acquire such well-located logistics facilities at a discount to replacement costs," said Philip Dunne, president, Prologis Europe. "These high-quality assets complement our existing portfolio. The Prague assets, in particular, are in a long-established park that will benefit from an increase in labor availability in the years to come."
Prologis owns and manages approximately 154 million square feet (14.3 million square meters) of logistics and distribution space in Europe as of June 30, 2014.
- See more at: http://otp.investis.com/clients/us/prologis/usn/usnews-story.aspx?cid=848&newsid=18116#sthash.ZsgYpzlP.dpuf
Posted at 22:43