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Mapletree buys USD 1.1 bln Prologis portfolio

Rafał Ostrowski 03 October 2018

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

Mapletree buys USD 1.1 bln Prologis portfolio
Mapletree has bought a warehouse portfolio from Prologis

WORLD Prologis has sold 86 buildings with a combined area of over 1.5 mln sqm as well as 584,000 sqm of land in Europe and the US to Singapour based Mapletree.

The European portfolio includes 46 buildings comprising 923,000 sqm, principally in Poland, France and Hungary, while the US portfolio comprises 40 buildings with 610,000 sqm primarily located in Seattle, Dallas and Chicago. The transaction included USD 934 mln of assets from Prologis’ co-investment ventures as well as USD 195 mln in wholly owned assets. Prologis’ share of the proceeds totaled approximately USD 610 mln. "This transaction effectively completes our efforts to align our portfolio with our long-term investment strategy. Our portfolio realignment programme began in 2011 and, upon completion in the fourth quarter of this year, will total EUR 14 bln of sales on an owned and managed basis," said Michael S. Curless, chief investment officer at Prologis. Hogan Lovells represented the seller.

Mapletree is a part of Temasek Holdings, an investment company owned by the government of Singapore with assets worth USD 308 bln.


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