Global industrial giant Prologis is injecting an additional $500 mln (€462 mln) of capital into its flagship European and US investment funds to take advantage of buying opportunities in the current market climate.
The $500 mln will be split equally across Prologis European Logistics Fund (PELF) and Prologis US Logistics Fund (USLF).
The company said the new infusion of capital will allow the vehicles ‘to further invest in high-quality industrial assets, creating value for investors and strengthening Prologis’ position as the global leader in its sector’.
‘Industrial real estate continues to be an attractive place for capital investment, especially USLF and PELF's well-located and high-quality portfolios,’ said Karsten Kallevig, managing director, global strategic capital at Prologis.
‘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.’
The PELF open-ended fund has a portfolio spanning over 161 million ft2, while USLF’s portfolio encompasses over 123 million ft2.
Together with the capital injection, Prologis announced it has cleared all redemption requests for PELF and USLF as of 30 June this year.
