“Market Cap $20.42 B As of May 2014
- Industry: Real Estate
- Founded: 1993
- Country: United States
- Website: www.prologis.com
- Employees: 1,468
- Sales: $1.78 B
- Headquarters: Denver, Colorado
- #1611 in Profit
- #883 in Assets
- #543 in Market value
Prologis, Inc. operates as a real estate investment trust which owns, operates and develops industrial real estate properties focused on global markets across the Americas, Europe and Asia. The company leases modern distribution facilities to manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises. It operates through two business segments: Real Estate Operations and Private Capital. The Real Estate Operations segment includes Rental Operations and Capital Deployment activities. The Rental Operations includes collection of rent from their customers under operating leases, including reimbursements for the vast majority of its operating costs. The Capital Deployment activities include development and re-development activities which helps its rental operations. It develops and re-develops industrial properties primarily in global and regional markets to meet their customers’ needs. The Private Capital segment co-invests in properties with private capital investors through a variety of co-investment ventures. The company was founded in 1983 and is headquartered in San Francisco, CA.“
In 1983, Hamid Moghadam and Doug Abbey founded Abbey, Moghadam and Company with a $50,000 line of credit. They were joined by 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.
In 1991, Security Capital Trust (SCI), a legacy company to Prologis, was incorporated. In 1994, SCI made an initial public offering(IPO) on the New York Stock Exchange. In 1997, AMB closed its IPO with more than $2.8 billion under management.
In 1998, SCI officially changed its name to ProLogis. Also in 1998, the company acquired Meridian Industrial Trust for $1.5 billion. In 2004, ProLogis acquired Keystone Industrial Trust for $1.5 billion.In the same year, ProLogis formed its first joint venture in China with Suzhou Logistics Center Co. Ltd. In 2005, ProLogis completed a merger with Catellus Development Corporation, a North American industrial development company, for $5.3 billion.
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. During the same year, AMB formed a euro 470 million joint venture with Allianz Real Estate. 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.
In 2013, Nippon Prologis REIT, Inc., a Japanese real estate investment trust formed by Prologis, successfully completing an IPO on the Tokyo Stock Exchange. 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).”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Prologis“