Dane Bowler • 11 Comments
Apr. 19, 2015, 7:23 PM
- The 60M square foot operating portfolio of KTR Capital Partners comprises 322 properties with about a 95% overlap with Prologis' (NYSE:PLD) existing U.S. portfolio. The purchase also includes 3.6M square feet of development in-progress and a land bank with a build-out potential of 6.8M square feet.
- The acquisition is being made by Prologis' JV with Norges Investment Management, of which Prologis has a 55% stake.
- The deal is expected to be accretive to annual core FFO by about $0.14 per share on a stabilized basis - this would be 7% growth from the midpoint of Prologis' 2015 guidance. The purchase is anticipated to lower G&A expense as a percentage of AUM by about 12% and boost U.S. dollar equity exposure to 93%.
- A conference call is set for Monday at 8 ET.
Apr. 25, 2013, 6:06 AM
Prologis (PLD) has sold 50% of a portfolio of properties to Norway's sovereign wealth fund for €1.2B. The portfolio comprises 195 properties in 11 countries across Europe, including in France, the U.K., Spain, Poland and Italy. The news of the deal follows Prologis' EPS miss yesterday and the company's announcement that it intends to raise $1.3B via an offering of 31M shares.| Apr. 25, 2013, 6:06 AM