MILAN – 1 February 2017 – Prologis, Inc., the global leader in logistics real estate, today announced its full-year 2016 activity in Italy.
Operating performance
Prologis Italy ended the fourth quarter with record occupancy of 98.2 percent, an increase of 5.3 percent over 2015.
As of 31 December 2016, Prologis Italy owned and managed approximately 1.03 million square meters of logistics space across 45 buildings in the following markets:
- Milan: Paullo, Lodi, Novara, Piacenza Castel San Giovanni, Cornaredo, Po Area, Cortemaggiore
- Turin: Trofarello, Settimo Torinese
- Bologna: Interporto, Castel San Pietro
- Padua and Rome via Tiburtina and Anagni
- Pavia: Siziano
Acquisitions
In 2016, the company acquired four facilities near Rome, expanding its portfolio to seven buildings totalling 125,000 square meters:
- 36.477 square meters and 16.314 square meters at Fiano Romano
- 13.101 square meters and 11.884 square meters at Roma Tiburtina
The company also acquired a 17.5-acre plot of land at Inteporto Bologna, where the company is the largest owner-operator of logistics real estate, with 13 buildings.
Development starts
In the fourth quarter, Prologis began construction of a 13,700 square meter build-to-suit Class-A logistics facility for DB Schenker Italia at Interporto Bologna. The building is scheduled for completion in the third quarter of 2017.
“The Italian market continues to recover, creating further opportunities for development in key markets with strong operating fundamentals,” said Sandro Innocenti, senior vice president, country manager, Prologis Italy. “2016 was a successful year and we look forward to another encouraging year ahead.”
ABOUT PROLOGIS
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.
FORWARD-LOOKING STATEMENTS
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.