October 6, 2015
The third quarter was a pretty active period for Prologis dispositions.
The San Francisco-based industrial REIT sold properties and made investment-vehicle contributions totaling $920 million during the three-month period. Prologis dispositions totaled $640 million during the month, while the investment contributions made up the remainder. Industrial assets impacted by the measure were in the United States and Europe.
Michael Curless, chief investment officer of the REIT, said that the activity will help Prologis pay down short-term debt that was compiled after its acquisition of KTR Capital
Partners, another industrial owner, for $5.9 billion in August. That deal gave Prologis an additional 70 million square feet of industrial real estate throughout the country.