Prologis Earmarks Over $500M to US/EU Funds
Prologis announced an additional commitment of $500 million to two new funds. The logistics real estate firm allocated €250 million ($271 million) to Prologis European Logistics Fund (PELF) and $250 million to Prologis US Logistics Fund (USLF).
The capital will be used to further invest in high-quality industrial assets, according to the firm.
“Industrial real estate continues to be an attractive place for capital investment, especially USLF and PELF’s well-located and high-quality portfolios,” said Karsten Kallevig, managing director, Global Strategic Capital at Prologis. “These vehicles have proven to have exceptional performance across market cycles. Now that external valuations have caught up with the market, we view this as a good time to invest.”
PELF and USLF operate in high-growth markets globally, with properties in major centers of commerce. PELF has a portfolio that spans over 161 million square feet and the USLF portfolio spans over 123 million square feet, both as of the end of June.
Meanwhile, the firm cleared all redemption requests as of June 30 for the two funds.
