SAN FRANCISCO—Prologis Inc. has completed a $588 million increase in the equity commitment to Prologis China Logistics Venture, with $500 million contributed by HIP China Logistics Investments Limited and $88 million by Prologis.
“The fundamentals of the Chinese logistics sector are very compelling, fueled by domestic consumption and the growth of e-commerce,” said Gary Anderson, CEO, Prologis Europe and Asia. “This incremental equity commitment enables us both to continue to grow our joint business in China.”
Prologis China Logistics Venture was formed in 2011 with an investment strategy to build, acquire and manage logistics properties in China. The venture has committed equity of more than $1.75 billion and potential investment capacity including leverage of $3.5 billion.
“We are delighted to re-up and build on our well established global relationship with HIP China Logistics Investments,” said James Green, managing director, global client relations, Prologis.
Prologis Inc. is the leading global provider and operator of logistics infrastructure, is focused on global and regional markets across the Americas, Europe and Asia. As of March 31, Prologis owned or had investments in properties and development projects expected to total approximately 574 million square feet (53.3 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers.