SAN FRANCISCO—Prologis, Inc. has announced the pricing of Real Estate Trust Certificates (Certificados Bursatiles Fiduciarios Inmobiliarios or "CBFIs") of FIBRA Prologis, a public real estate investment trust in Mexico.
FIBRA Prologis priced its 258 million CBFIs at $2.09 (27 pesos) per CBFI. The offering, which provides an option to purchase additional CBFIs within 30 days of the closing, is expected to close on or about June 9, 2014, subject to customary closing conditions.
FIBRA Prologis' Class-A portfolio totals 29.7 million square feet (2.8 million square meters) and includes 177 logistics and manufacturing facilities in Mexico.
FIBRA Prologis will serve as the company's long-term investment vehicle in Mexico. The FIBRA will have the right of first refusal on Prologis-developed properties, and wholly owned subsidiaries of Prologis will serve as the property and asset manager for FIBRA Prologis.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
