Prologis Launches Second China JV

SAN FRANCISCO and BEIJING-Prologis Inc. has formed Prologis China Logistics Venture 2. The venture’s investment strategy is to build, acquire and manage logistics properties in its global markets in China. This venture follows Prologis China Logistics Venture 1 which was formed in March 2011. As with the first venture, Prologis will be partnering with HIP China Logistics Investments Limited. “We are pleased to extend our relationship with HIP China Logistics Investments and are jointly committed to continuing our successful partnership in this new vehicle,” said Gary Anderson, CEO, Prologis Europe and Asia.  “With strong growth in consumption and a limited supply of class-A distribution space, the Chinese logistics market continues to present compelling investment opportunities.”  The venture has potential investment capacity of over $1 billion, including $588 million of committed equity. Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of September 30, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 562 million square feet in 21 countries.