SAN FRANCISCO, July 4, 2017 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD) today announced that it has entered into an agreement to acquire its partner's interest in its Brazil portfolio for R$1.2 billion (US$362
million). Upon close of the transaction, Prologis will own 100% of Prologis CCP and rename the business to Prologis
Brazil.
The transaction is subject to customary closing conditions, including applicable regulatory approvals, and is expected to
close in the second half of 2017.
Prologis CCP is a joint venture between Prologis and Cyrela Commercial Properties. Prologis CCP is one of the leading
providers of industrial real estate in Brazil's primary markets and currently owns and operates
approximately 8.8 million square feet (0.82 million square meters).
About Prologis
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of
March 31, 2017, the company owned or had investments in, on a wholly owned basis or through
co-investment ventures, properties and development projects expected to total approximately 678 million square feet (63 million
square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,200 customers
across two major categories: business-to-business and retail/online fulfillment.
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.
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SOURCE Prologis, Inc.