Prologis has cleared all redemption requests for its US and pan-European open-ended funds and committed more than $500m (€461m) in additional capital to both vehicles.
The NYSE-listed global logistics specialist said it made a €250m commitment to Prologis European Logistics Fund (PELF) and committed $250m to Prologis US Logistics Fund (USLF) to enable the funds to invest further in industrial assets.
Karsten Kallevig, managing director of global strategic capital at Prologis, said: “Industrial real estate continues to be an attractive place for capital investment, especially USLF and PELF’s well-located and high-quality portfolios.
“These vehicles have proven to have exceptional performance across market cycles. Now that external valuations have caught up with the market, we view this as a good time to invest.”
Prologis also said it had cleared all redemption requests as of 30 June for the two funds.
PELF has a portfolio that spans more than 161m sqft and USLF’s portfolio comprises more than 123m sqft.
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