Prologis Inc. completed approximately $605 million in building and land dispositions in Europe in the first quarter of 2012.
Approximately $485 million represented the share of the proceeds for Prologis, a San Francisco-based global owner, operator and developer of industrial real estate. Prologis’s transactions included:
• $150 million of third-party building and land dispositions in Germany, of which $110 million was Prologis’s share. The portfolio was composed of 15 properties with a total of approximately 2.3 million sq. ft. in five submarkets;
• $130 million of third-party building and land dispositions in Poland, of which $90 million was Prologis’s share. The portfolio comprised 11 properties totaling approximately 1.8 million sq. ft. in three submarkets; and
• a $325 million 3.5 million-sq.-ft. portfolio in the U.K., of which $285 million was Prologis' share of the proceeds.
"We began 2012 with strong progress against our strategic priority of realigning our portfolio," Gary E. Anderson, CEO of Prologis’s Europe and Asia division, said in a statement. "The sale of these assets exemplifies the strong institutional demand for high-quality industrial properties in Europe."
Prologis is currently Europe’s leading provider of industrial real estate, with approximately 146 million sq. ft. of industrial real estate located across 622 facilities in 14 countries as of December 31, 2011.