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Moghadam Ready to Take Prologis Reins

SAN FRANCISCO-Walt Rakowich steps down on Monday, all in keeping with the succession plan mapped out at the time of the Prologis, AMB merger.

By John Salustri | Updated on December 28, 2012

SAN FRANCISCO-The time is at hand. As projected when Prologis and AMB merged in January of 2011, Walter C. Rakowich, who has led the firm in one form or another since 2008, will retire on Monday. His co-CEO, Hamid R. Moghadam, will take over as CEO and chairman.

This milestone caps a month of forward-looking news at the industrial REIT. As GlobeSt.com reported a few days ago, Prologis has partnered with Norges Bank Investment Management to form a joint venture, the aim of which is to acquire a portfolio of high-quality distribution facilities wholly owned by Prologis in 11 target European global markets.

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