The portfolio comprises 1.5 million square meters of buildings as well as 584,000 square meters of land, including:
- 46 buildings totaling 923,000 square meters principally in Poland, France and Hungary
- 40 buildings totaling 610,000 square meters primarily in Seattle, Dallas and Chicago
The transaction included $934 million of assets from Prologis’ co-investment ventures and $195 million in wholly owned assets. Prologis’ share of the proceeds totaled approximately $610 million. The transaction was included in the company’s 2018 guidance.
"This transaction effectively completes our efforts to align our portfolio with our long-term investment strategy," said Michael S. Curless, chief investment officer, Prologis. “Our portfolio realignment program began in 2011 and, upon completion in the fourth quarter of this year, will total $14 billion of sales on an owned and managed basis.”