(Read more on the industrial market and thedebt and equitymarkets.)
DENVER-ProLogis has four new property funds with a combinedcapacity of $14 billion. Each fund will own assets in one of fourdifferent geographic regions--Europe, the US, Mexico and SouthKorea--and will serve as the exclusive investment vehicle forproperties from ProLogis' development pipeline in that region. Thefunds also will have the ability to make third-party acquisitionsin their respective regions.
The funds are part of the company's strategy to grow its globalcustomer base, redeploy capital and diversify its revenue whilemeeting investors return objectives. Jeffrey Schwartz, ProLogischairman and CEO, says the new funds take to $33 billion thecompany's capacity for assets under management.
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