Prologis
Company type | Public |
---|---|
NYSE: PLD S&P 500 Component | |
Industry | Real estate investment trusts |
Genre | Industrial properties |
Founded | 1983 |
Founder | Hamid Moghadam, Doug Abbey and T. Robert Burke |
Headquarters | , USA |
Area served | North and South America, Europe, Asia |
Key people | Hamid R. Moghadam (Chairman and CEO) Gary E. Anderson (CEO, Europe and Asia) Eugene F. Reilly (CEO, Americas) |
Products | Commercial real estate |
Revenue | 5,973,692,000 United States dollar (2022) |
3,467,538,000 United States dollar (2022) | |
3,364,856,000 United States dollar (2022) | |
Total assets | US$ 51.1 billion (2014)[1] |
Number of employees | 1,400 |
Website | http://www.prologis.com/ |
Prologis, Inc. is a global industrial real estate investment trust (REIT).[2] The company is the owner, manager and developer of approximately 3,000 logistics and distribution facilities in markets across the Americas, Asia and Europe, and serves approximately 4,700 customers across a diverse range of industries.[2][3][4]
Prologis operates as a publicly traded company[5] and is a member of the S&P 500.[6]
In 2011, ProLogis and AMB Property Corporation completed a merger to create Prologis, which Forbes called the "World's Biggest Industrial Property Company."[7][8][9] As of the first quarter 2014, Prologis had $51 billion in total assets under management.[2]
Prologis’ corporate headquarters is located in San Francisco, California.[4]
History
In 1983, Hamid Moghadam and Doug Abbey founded Abbey, Moghadam and Company with a $50,000 line of credit. They were joined by T. Robert Burke in 1984 and established AMB, a legacy Prologis company that invested in office, industrial and community shopping centers on behalf of large institutional investors.[10]
In 1991, Security Capital Trust (SCI), a legacy company to Prologis, was incorporated.[11] In 1994, SCI made an initial public offering (IPO) on the New York Stock Exchange.[11] In 1997, AMB closed its IPO with more than $2.8 billion under management.[10]
In 1998, SCI officially changed its name to ProLogis.[12] Also in 1998, the company acquired Meridian Industrial Trust for $1.5 billion.[13] In 2004, ProLogis acquired Keystone Industrial Trust for $1.5 billion.[14] In the same year, ProLogis formed its first joint venture in China with Suzhou Logistics Center Co. Ltd.[10] In 2005, ProLogis completed a merger with Catellus Development Corporation, a North American industrial development company, for $5.3 billion.[15]
In 2011, ProLogis closed the sale of a majority of Catellus retail and mixed-use assets to affiliates of TPG Capital for $353 million, including rights to the Catellus name.[16] During the same year, AMB formed a euro 470 million joint venture with Allianz Real Estate.[17] Also in 2011, ProLogis and AMB completed a “merger of equals” to create the largest industrial real estate company in the world, with more than $40 billion in assets under management and a platform of logistics and distribution facilities on four continents.[7][9][18]
In 2013, Nippon Prologis REIT, Inc., a Japanese real estate investment trust formed by Prologis, successfully completed an IPO on the Tokyo Stock Exchange.[19] Also in 2013, Prologis European Logistics Partners Sarl, a joint venture with Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global, closed an initial acquisition of 195 Class-A properties in Europe comprising 49msf (4.5msm).[20]
Business
Prologis operates as a publicly traded company[5] and is a member of the S&P 500.[6] Prologis is focused on three business lines: Operations (leasing, managing buildings);[2][4] Capital Deployment (development and acquisitions of properties);[21] and Strategic Capital (raising capital).[1][22]
References
- ^ a b "Form 10-Q". Prologis. Retrieved 6 June 2014.
- ^ a b c d "Company Overview". Prologis. Retrieved 6 June 2014.
- ^ Kacsmar, Mike. "Flexibility, Transparency And Values Drive Entrepreneur's Success". Forbes. Retrieved 6 June 2014.
- ^ a b c "Prologis Corporate Profile" (PDF). Prologis. Retrieved 6 June 2014.
- ^ a b "Prologis, Inc". Google Finance. Retrieved 6 June 2014.
- ^ a b "S&P 500 Index". CNNMoney. Retrieved 6 June 2014.
- ^ a b Slatin, Peter. "Prologis Becomes World's Biggest Industrial Property Company--Now What?". Forbes. Retrieved 6 June 2014.
- ^ "ProLogis and AMB Property to Merge". New York Times. Retrieved 6 June 2014.
- ^ a b Troianovski, Anton. "Warehouse Giants AMB Property, ProLogis to Merge". Wall Street Journal. Retrieved 6 June 2014.
- ^ a b c "Building for the future". Prologis. Retrieved 6 June 2014.
- ^ a b Robaton, Anna. "Prologis Together". REIT.com. Retrieved 6 June 2014.
- ^ Moore, Paula. "Security Capital tries for name recognition". Denver Business Journal. Retrieved 6 June 2014.
- ^ "Prologis To Acquire Meridian, A Rival Landlord". New York Times. Retrieved 6 June 2014.
- ^ Chapman, Parke. "ProLogis to Buy Keystone for $1.6B". National Real Estate Investor. Retrieved 6 June 2014.
- ^ Mattson-Teig, Beth. "ProLogis Gobbles Up More Market Share". National Real Estate Investor. Retrieved 6 June 2014.
- ^ Finkelstein, Alex. "ProLogis--TPG $505 Million Deal Closing in First Quarter". World Property Channel. Retrieved 6 June 2014.
- ^ "Allianz, AMB form European logistics joint venture". Reuters. Retrieved 6 June 2014.
- ^ "ProLogis and AMB Property to Merge". New York Times. Retrieved 6 June 2014.
- ^ Kathleen Chu and Katsuyo Kuwako. "Nippon Prologis Jumps in Debut After $1 Billion IPO: Tokyo Mover". Bloomberg. Retrieved 6 June 2014.
- ^ "Prologis and Norges Bank Investment Management close EUR2.4bn JV in Europe". Property Funds World. Retrieved 6 June 2014.
- ^ "Capital Deployment". Prologis. Retrieved 6 June 2014.
- ^ "Three lines of business". Prologis. Retrieved 6 June 2014.
External links
- Prologis Corporate Website
- Business data for Prologis:
- Prologis on Twitter