Prologis completes liquidation of PEPR fund

Global industrial property specialist Prologis announced it has assumed 100% control of ProLogis European Properties' (PEPR) assets and liabilities.

PEPR was a Luxembourg closed-ended investment fund. It has completed its delisting from the Luxembourg Stock Exchange and NYSE Euronext Amsterdam. Preferred unitholders received EUR 6.03 per unit. Ordinary unitholders received EUR 6.55 per unit.

'We are excited to be ahead of schedule on assuming 100% control of PEPR's assets, and we will commence work on the recapitalization of this portfolio,' said Guy Jaquier, CEO, Private Capital, Prologis.

The assets Prologis received from PEPR's liquidation include 210 distribution facilities covering 4.5 million m² across 11 European countries. Occupancy in the portfolio is above market average at 93.2% with a diverse customer base, Prologis said in a statement.

PEPR was founded in 1999 and listed in 2006. The fund's property portfolio was valued at had a EUR 2.5 bn at end-March 2012