Prologis Acquires 25,100 Square Metres in Rome
MILAN (6 June 2016) – Prologis, Inc., the global leader in logistics real estate, today announced that Prologis Targeted Europe Logistics Fund (PTELF) has acquired two buildings totalling 25,100 square metres in Rome from real estate company SiDi Srl.
The buildings are in the Tiburtina area, near the Grande Raccordo Anulare metropolitan ring road and the urban stretch of the A24 motorway, one of the region’s best locations for logistics. The current tenants, Protezione Civile, the Civil Protection department and SGT Corriere Espresso, one of the leading Italian express courier services, will continue to operate from the facilities.
The acquisition increases the size of Prologis’ portfolio in Rome to seven buildings totalling 130,000 square metres.
Sandro Innocenti, senior vice president, country manager, Prologis Italy, said, “With this new acquisition, Prologis consolidates its position as the market leader in this area. This accretive investment represents our second acquisition in Rome over the last nine months and is consistent with our strategy of acquiring core assets in long- term global markets.”
Prologis was assisted by DLA Piper and Sedna Real Estate.
As of March 31, 2016 Prologis owns and manages approximately 1.01 million square metres of distribution space in Italy and leases facilities to customers operating in the retail, food, cosmeceutical, e-commerce, mechanical and electrical components, hardware and fashion sectors. Its logistics parks are located in the Milan area (Paullo, Lodi, Novara, Piacenza, Castel San Giovanni, Cornaredo, Arena Po, Cortemaggiore), Pavia
Prologis, Inc. is the global leader in industrial real estate. As of September 30, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 671 million square feet (62 million square meters) in 21 countries. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
The statements in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward- looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis’ financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (“REIT”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading “Risk Factors.” Prologis undertakes no duty to update any forward-looking statements appearing in this release.