Prologis, Inc., the leading global owner, operator and developer of industrial real estate
, today announced it has acquired Prague Modletice D1, a high-quality 16,000 square metre logistics facility located in the Prague D1 zone of the Czech Republic from Centaurus Logistics S.á.r.l.
As the only available vacant facility in the D1 zone, Prague Modletice D1 – now renamed Prologis Park Prague D1 West II – offers modern industrial space on three hectares of land in Modletice, near Exit 10 of the D1 Highway, which is approximately 11 kilometres southeast of Prague.
"This is Prologis' third park in the D1 zone and a key addition to our portfolio, as there is no large industrial space available in this vicinity and we are seeing demand from existing occupiers who are asking for expansion possibilities within our portfolio," said Ben Bannatyne, managing director, Prologis Central & Eastern Europe. "This area is the most popular and active submarket in Prague and during the last nine months, Prologis has seen a strong increase in activity."
Prologis Park Prague D1 West II is ideally positioned for domestic distribution and to be a Central European hub. The location is only 20 minutes from the international airport and connects Prague with the Brno region. It provides further access to Ostrava, Bratislava, and Vienna. It is a one-hour drive to Pilsen via the D5 highway and a four-hour drive to Munich.
Prologis is the leading provider of industrial real estate in Central & Eastern Europe with approximately 3.6 million square metres of logistics and distribution space as of December 31, 2013. With this acquisition, Prologis’ high-quality portfolio in the Czech Republic comprises 650,000 square metres across seven distribution parks.
Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of December 31, 2013, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 52.9 million square metres in 21 countries. These properties are leased to more than 4,500 customers, including third-party logistics providers, transportation companies, retailers, manufacturers, and other enterprises.
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 developed properties, disposition activity, general conditions in the geographic areas where we operate, synergies to be realized from our recent merger transaction, our debt and financial position, our ability to form new property funds and the availability of capital in existing or new property funds — 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.