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SAN FRANCISCO—Prologis, Inc., the global leader in industrial real estate, today announced that Japanese real estate investment trust Nippon Prologis REIT, Inc., will issue new investment units. Prologis will retain its 15% ownership interest in Nippon Prologis (NPR).NPR intends to use the net proceeds from the issuance, estimated at $374 million (JPY 38B), for the repayment of the bridge loans used to acquire five class-A properties for approximately $448 million (JPY 45.5B).

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